Adani Capital, the NBFC arm of the Adani Group, will invest Rs 50 crore in PRA Realty’s project in Pune. “Adani Capital has partnered with PRA Realty to provide capital for its project in Pune,” the company said in a statement. This investment will be utilised towards the development of a mixed-use project. Promoted by Rustom Bharucha, PRA Realty is amongst the fastest growing real estate developers in Pune, with close to 5 million sq ft currently under development and having delivered over 1 million sq ft.
“Our philosophy is to back growing and dynamic real estate developers. We were very impressed with PRA’s execution in the Pune market. We look forward to extending our relationship with PRA Realty and to explore opportunities with the group as they grow,” said Gaurav Gupta, CEO of Adani Finserve, parent entity of Adani Capital.
Adani Group has entered into the financial services business with a focus on wholesale and retail lending. “We are delighted to be working closely with Adani Capital, who are a fantastic team of professionals that have proven structuring capabilities and an extremely quick turnaround time. We look forward to partnering with them on our growth trajectory,” said Bharucha.