Business
Saffron, the fund advisor to Yatra Capital, is looking to invest institutional funds of about euro 1-1.5 billion over the next two years in the real estate space in India, which would include residential and hospitality projects.
Updated : Sep 15, 2017, 01:46 AM IST
To invest €1.5 bn in residential and hospitality projects
KOLKATA: Saffron, the fund advisor to Yatra Capital, is looking to invest institutional funds of about euro 1-1.5 billion ($1.5-2 billion) over the next two years in the real estate space in India, which would include residential and hospitality projects.
The investments will be made either through Yatra Capital, which is the first India-dedicated real estate fund listed on the Amsterdam stock exchange, or through any of Saffron’s other structures.
Yatra Capital, capitalised at euro 220 million, is barely a year old, having launched its IPO in December 2006. Its investors include biggies like HSBC, Aviva, ING-Clarion and ABN-Amro.
The fund has already invested euro 101 million in various real estate projects in Pune, Agra, Indore, Nashik, Hyderabad and a few other cities. Despite issues like Nandigram, Ajoy Kapoor, managing director, Saffron Asset Advisors, said: “Yatra is taking a long-term view on West Bengal.” He said that Yatra, in fact, is taking a 10-15-year view on all the cities it is investing in.