Pi­ra­mal Cap­i­tal & hous­ing Fi­nance Com­mits inr 650 crore to samhi group

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Pi­ra­mal Cap­i­tal & Hous­ing Fi­nance Lim­ited (PCHFL), the wholly owned sub­sidiary of Pi­ra­mal En­ter­prises, re­cently an­nounced its in­vest­ment of ~INR 650 crore in the Gur­gaon based SAMHI Group. Samhi Group owns ~29 ho­tels and has mar­quee in­vestors. This struc­tured debt in­vest­ment will al­low Samhi Group to sup­port their growth plans and re­fi­nance ex­ist­ing lenders across three as­sets – The Court­yard and Fair­field by Mar­riott in Ban­ga­lore, the Sher­a­ton in Hyderabad and the Hy­att Re­gency in Pune. This is the third sig­nif­i­cant in­vest­ment made by PCHFL in the hospi­tal­ity sec­tor over last 6 months. Prior to this, PCHFL had in­vested ~INR 600 crore with the Gur­gaon based Vatika Group (against the Westin Gur­gaon and the Westin Sohna) and ~INR 600 crore with Ad­van­tage Ra­heja Group (against the JW Mar­riott, Ban­ga­lore and the Crowne Plaza, Pune). All loans are against op­er­a­tional as­sets. PCHFL has also con­cluded 5 other trans­ac­tions, to­talling to ~INR 450 crore against 5 ho­tel as­sets, (three op­er­a­tional and two in fi­nal stages of con­struc­tion and fit out) op­er­ated by top tier brands like Taj, Hy­att, Radis­son, etc. across re­gions like Ban­ga­lore, Hyderabad, Shimla and Goa. Of this, INR 100 crore will be ex­tended as last mile fund­ing to­wards the com­ple­tion of the first Taj Lux­ury Re­sort in Hi­machal Pradesh coming up in Theog, near Shimla. The Taj Theog is a 99 key full ser­vice five star lux­ury prop­erty built over a hill­top of ~5 acres, with a 360° view of the Hi­malayan range and is ex­pected to be op­er­a­tional within the next six to nine months. Khushru Ji­jina, Manag­ing Di­rec­tor, Pi­ra­mal Cap­i­tal & Hous­ing Fi­nance Ltd said “We be­lieve that this is an op­por­tune time to tar­get the hospi­tal­ity sec­tor with ‘in­tel­li­gent’ cap­i­tal. As the tra­di­tional lenders are un­able to pro­vide ‘holis­tic’ so­lu­tions, ex­per­tise of our Group and our pres­ence across the cap­i­tal stack

en­ables us to cater to this in­dus­try, with unique cus­tom­ized so­lu­tions and in­no­va­tive struc­tures. Over a span of 6 months, we have de­ployed INR ~2000 crore to­wards the hospi­tal­ity sec­tor as we scale our of­fer­ings within this ver­ti­cal to reach a tar­get book size of INR 10,000cr in the next 3 years. The in­dus­try is firmly on a path of growth, which has ably sup­ported both do­mes­tic and for­eign tourism, has higher dis­pos­able in­come and is wit­ness­ing a gen­eral change in spend­ing habits of tar­get cus­tomers.”

Khushru ji­jina

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