Shapoorji Pallonji Group Sells Stake in Hyderabad Project to GIC for Rs 2
The Shapoorji Pallonji Group has sold its stake in the group's Singapore-based joint venture real estate fund (SPREF) held in the TSI Business Parks
Shapoorji Pallonji GroupGicReal EstateInvestmentHyderabadReal EstateMay 30, 2024
The TSI Business Parks, located in Gachibowli, Hyderabad, owns Waverock, a grade-A IT SEZ with a gross leasable area of 2.4 million sqft. The Shapoorji Pallonji Real Estate Fund (SPREF) is a joint venture between the SP group and Allianz, a German insurance group.
Rajesh Agarwal, CEO of Shapoorji Pallonji Investment Advisors, said, This transaction underlines the attractiveness of the domestic realty market and highlights our experience in acquiring good assets and enhancing their value towards providing profitable exits to institutional investor partners.
Shapoorji Pallonji Investment Advisors, founded in 2010, is the fund manager of SPREF and provides non-binding investment manager services to the fund. The company was established as a synergistic expansion to the group's existing real estate development and contracting businesses, leveraging its established brand name and expertise.
The Shapoorji Pallonji Group is a leading Indian conglomerate with a rich history of over 155 years. The group has a diversified portfolio of businesses, including real estate development, construction, and investment advisory services.
Shapoorji Pallonji Investment Advisors, founded in 2010, is a 100% subsidiary of Shapoorji Pallonji and Company. The company provides investment advisory services to the SPREF, leveraging the group's experience in real estate development and construction.
GIC, the Singaporean wealth fund, is a global institutional investor with a portfolio of investments across various asset classes, including real estate.
Shapoorji Pallonji Group is a leading Indian conglomerate with a rich history of over 155 years. The group has a diversified portfolio of businesses, including real estate development, construction, and investment advisory services.
GIC is a global institutional investor with a portfolio of investments across various asset classes, including real estate.
Frequently Asked Questions
What is the consideration of the deal?
The consideration of the deal is Rs 2 200 crore
Who is the buyer of the stake?
The buyer of the stake is GIC the Singaporean wealth fund
What is the name of the project involved in the deal?
The project involved in the deal is the TSI Business Parks Hyderabad
What is the gross leasable area of the project?
The gross leasable area of the project is 2 4 million sqft
Who is the CEO of Shapoorji Pallonji Investment Advisors?
The CEO of Shapoorji Pallonji Investment Advisors is Rajesh Agarwal
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