Xan­der Fi­nance In­vests .₹ 300 cr in Two Projects

Debt fa­cil­i­ties to have a ten­ure of 4-5 years, dis­burse­ment to be made in phases

The Economic Times - - Companies: Pursuit Of Profit - Kailash.Babar @times­group.com

Mum­bai: Xan­der Fi­nance, the non-bank­ing fi­nan­cial arm of al­ter­na­tive in­vest­ment firm The Xan­der Group, has in­vested nearly .₹ 300 crore in two res­i­den­tial projects in Chen­nai and the Na­tional Cap­i­tal Re­gion, said a com­pany of­fi­cial. The NBFC has in­vested over .₹ 120 crore in a plot­ted devel­op­ment project of re­alty devel­oper VGN Prop­erty De­vel­op­ers in Am­bat­tur lo­cal­ity of western Chen­nai, while it in­vested over .₹ 160 crore in An­sal API’s low-rise res­i­den­tial project in sec­tor 67, Gur­gaon.

“Both the projects that we have in­vested in do not have much of con­struc­tion risk as­so­ci­ated with them as one of them is a low-rise and the other one is a plot­ted devel­op­ment. This has al­lowed us to en­ter these projects be­fore the com­mence­ment of sales. We are quite con­fi­dent of cash flows aris­ing from these projects in a shorter span due to lim­ited con­struc­tion work re­quired to be done,” said Amar Merani, MD, Xan­der Fi­nance .

The to­tal ten­ure of these debt fa­cil­i­ties are 4-5 years and dis­burse­ment to be made in tranches is linked to cer­tain pro­jec­tre­lated mile­stones. The in­vest­ment made by Xan­der Fi­nance in VGN Prop­erty’s Chen­nai project is part of a larger town­ship, VGN Cos­mopo­lis. Group is a global in­vest­ment firm fo­cused on re­alty, in­fra­struc­ture, hos­pi­tal­ity and credit in EMs

“In Jan­uary, we launched the 10-acre first phase of to­tal plot­ted devel­op­ment spread over 20 acres . We will be launch­ing our sec­ond phase by March or April. This is part of a large town­ship VGN Cos­mopo­lis,” said V Pratish De­va­doss, MD, VGN Prop­erty De­vel­op­ers. Xan­der Fi­nance has been an ac­tive in­vestor in real es­tate and ed­u­ca­tion for the last few years and has been de­ploy­ing about .₹ 1,000-1,500 crore in these sec­tors on an an­nual ba­sis.

The Xan­der Group is a global in­vest­ment firm fo­cused on real es­tate, in­fra­struc­ture, hos­pi­tal­ity, re­tail and credit in emerg­ing mar­kets. Since 2005, the firm has com­mit­ted over $2.3 bil­lion of cap­i­tal to the In­dian mar­ket across pri­vate, pub­lic, credit and ven­ture in­vest­ments.

In Novem­ber, in the largest sin­gle deal in the re­tail real es­tate sec­tor in In­dia, Xan­der Group’s arm Vir­tu­ous Re­tail formed a $450 mil­lion joint ven­ture with Dutch pen­sion fund as­set man­ager APG As­set Man­age­ment.

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