Century Real Estate Secures Rs 1,850 Crore Debt to Boost Bengaluru Projects
New Delhi, May 22 (PTI) Century Real Estate has raised Rs 1,850 crore in debt to expand its business and tap into the robust demand for properties in Bengaluru. The company will use this fund to support both ongoing and upcoming housing and commercial projects.
In a statement released on Thursday, Bengaluru-based Century Real Estate announced that it has secured Rs 1,850 crore in debt funding, led by Ares Asia and SC Lowy. The funding will drive the company's expansion strategy and support both new and existing projects in Bengaluru.
The funding round was spearheaded by Ares Asia, which invested Rs 1,600 crore in two trances, while SC Lowy contributed Rs 250 crore to support the development of residential and Grade A commercial spaces.
Ravindra Pai, Managing Director of Century Real Estate, said, 'Securing Rs 1,850 crore in funding is a testament to the trust our financial partners place in Century Real Estate's vision and execution.' With Bengaluru's real estate market witnessing strong demand for both residential and Grade A commercial spaces, Pai added that this capital infusion empowers the company to accelerate its expansion.
Founded by P Dayananda Pai and P Satish Pai in 1973, Century Real Estate is one of the leading real estate companies in South India. The company has a land bank of over 3,000 acres and a development portfolio of over 20 million square feet, comprising premium residential and commercial assets such as hotels, office buildings, residences, educational institutions, and integrated townships.
This significant investment from Ares Asia and SC Lowy underscores the confidence in Century Real Estate's ability to deliver high-quality projects and meet the growing demand in Bengaluru's real estate sector. The company's strategic use of this funding will likely further solidify its position as a key player in the region's property market.
