Private equity company Piramal Fund Management (PFM) has invested Rs225 crore in realty firm Ganesh Housing Corporation's mixed use development project in Ahmedabad. “PFM has invested Rs225 crore with a subsidiary of Ganesh Housing Corporation. The investment is towards a prime city centric land parcel situated close to Surdhara Circle in Thaltej, Ahmedabad,” the company said in a statement.
The investment marks the company's foray into Ahmedabad market after funding projects in cities like Mumbai, Pune, Bangalore, Delhi NCR and Chennai. The project, spread across 10 acres with a saleable area of nearly 1.8 million sqft, is envisaged to be developed as a mixed-use scheme with a combination of residential apartments coupled with both commercial and high street retail component, the release stated.