Revolutionizing Real Estate Financing: Prachay Capital Introduces Innovative Options for Aluform
Pune-based Prachay Capital partners with Knest to launch pioneering financing solutions for Aluform
Real Estate FinancingAluformPrachay CapitalKnestNbfcReal EstateMay 28, 2024
The partnership comes as a boon to the real estate sector, as Aluform, a cutting-edge technology essential for high-rise buildings and expansive projects, has seen a shift towards Indian suppliers in recent years. Knest, led by Mr. Nitin Mittal, has emerged as a key player in this domain, capturing a significant market share.
Recognizing the critical role of Aluform in project economics and the absence of dedicated financing options, Prachay Capital has introduced two innovative products – Equipment Lease Finance (ELF) and Equipment Purchase Finance (EPF). These solutions alleviate cash flow constraints for developers by offering flexible payment schedules, thus enabling smoother project execution.
The unveiling of these ground-breaking products took place at YouthCon, Delhi in March 2024, garnering enthusiastic responses from industry leaders and developers nationwide. The initiative has been lauded for its forward-looking approach, marking a departure from traditional lending practices in the real estate sector.
The partnership between Knest and Prachay Capital signifies a win-win scenario for both manufacturers and developers. Knest can now provide its customers with exclusive payment facilities, while developers benefit from more manageable payment terms, reducing financial strain during project initiation.
Girish Lakhotiya, CEO of Prachay Capital, commented, “We are excited to pioneer innovative financing solutions tailored to the evolving needs of the real estate sector. Our collaboration with Knest underscores our commitment to driving positive change and facilitating growth in the industry.”
With a track record of developing avant-garde financial products, Prachay Capital is poised to reshape the dynamics of real estate financing. As new-age NBFCs continue to innovate, the banking industry can expect a paradigm shift in its approach towards supporting the burgeoning real estate market.
Prachay Capital is a prominent non-banking financial company (NBFC) based in Pune, known for its innovative financial products and commitment to driving positive change in the industry.
Knest is a leading Aluform manufacturer, led by Mr. Nitin Mittal, which has captured a significant market share in the industry.
Frequently Asked Questions
What is Aluform?
Aluform is a cutting-edge technology essential for high-rise buildings and expansive projects
What are the innovative financing solutions introduced by Prachay Capital?
Prachay Capital has introduced two innovative products – Equipment Lease Finance (ELF) and Equipment Purchase Finance (EPF)
What is the benefit of the partnership between Knest and Prachay Capital?
The partnership signifies a win-win scenario for both manufacturers and developers providing exclusive payment facilities and more manageable payment terms
What is the significance of this partnership in the real estate sector?
This partnership is poised to reshape the landscape of real estate financing particularly in Pune where capital-intensive projects often face challenges in securing timely funding
What is Prachay Capital's commitment in the industry?
Prachay Capital is committed to driving positive change and facilitating growth in the industry through its innovative financial products and partnerships
Related News Articles
Real Estate Surge: Capital Values Outstrip Rentals in Major Indian Cities
In recent years, the real estate markets of Bengaluru, MMR, NCR, and Hyderabad have witnessed a significant shift where capital values have surpassed rental yields, indicating a strong demand for property investments.
RBI Rate Cut: A Boost for Housing Market and Homebuyers
The Reserve Bank of India's (RBI) recent decision to cut interest rates by 25 basis points is expected to provide a significant boost to the housing market, particularly for mid-income buyers. Coupled with the budget tax benefits, this move is poised to e
Embassy Group Welcomes Jitendra Virwani as New Chairman and Aditya Virwani as Vice-Chairman
Embassy Group has made significant changes to its leadership with the appointment of Jitendra Virwani as Chairman and Aditya Virwani as Vice-Chairman, aiming to expand its real estate presence across India.
TRAI Webinar on Digital Connectivity Inside Buildings: A Collaborative Effort with RERA
The Telecom Regulatory Authority of India (TRAI) recently hosted a webinar to discuss the importance of digital connectivity within buildings and the new 'Regulation on Rating of Properties for Digital Connectivity, 2024.' The event was attended by repres
Union Budget 2025-26: A Boon for Real Estate and Infrastructure
The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, has introduced several measures to bolster the real estate, housing, and infrastructure sectors. Jitendra Mehta, President of CREDAI-MCHI Thane, lauded the budget for its growth-o
Minor Hotels Europe & Americas Partners with Deepki to Achieve Net Zero Goals
Minor Hotels Europe & Americas has chosen Deepki, a market-leading ESG platform, to support its transition to net zero and improve its sustainability practices worldwide.