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Shapoorji Pallonji, Piramal to invest in city project

Friday, 12 Aug 2016
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Piramal Fund Management and Shapoorji Pallonji Real Estate Development will pump in about Rs 300 crore in a real estate project launched by Mumbai-based developer Ornate Spaces.

The duo, along with Ornate, will construct a one million sq ft residential project titled Grove Towers, at Oshiwara in suburban Mumbai.

Out of the planned outlay, 275 crore is debt-type funding by the Piramals; the rest is an equity investment by Shapoorji Pallonji Real Estate (SPRE).

The proposed project will have two towers of 38 floors each with modern amenities.

 
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