HDFC Fund to invest Rs 110 crore in Virar project
Housing Development Finance Corp (HDFC) Fund will invest 110 crore in a project of Keystone Realtors at Virar near Mumbai. HDFC Capital Affordable Real Estate Fund will acquire a minority stake in the Virar project of Keystone Realtors, which builds residential projects under the Rustomjee brand.
The fund could be expecting a return upwards of 20% from the project. HDFC Capital Advisors is the investment manager for the fund. It has a long-term view with an investment cycle of 12 years.