<article>Total Environment has raised funding from HDFC Capitlal and Amplus has held first close of second fund.</article>

Total Environment has raised funding from HDFC Capitlal and Amplus has held first close of second fund.
<h3 class="selectionShareable">Total Environment raises funding from HDFC Capital</h3>
Bangalore-based real estate developer Total Environment Building Systems Pvt. Ltd has raised $48 million from <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=hdfc+capital" target="_blank">HDFC Capital</a>&#8216;s offshore fund, it said in a statement.
The investment will help the developer put in Rs 400 crore into construction of five ongoing projects, said founder Kamal Sagar. Total Environment has built 30 projects in Bangalore and Pune.
It will now build more of affordable housing in the range of Rs 60-70 lakh for an apartment as compared with its earlier projects that cost between Rs 2 crore and 3 crore for an apartment.
The deal signals a growing confidence among investors for equity investments in real estate players, who had turned cautious after suffering losses post the 2008 financial crisis. Most of the funding raised by real estate companies from private equity players were in the form of debt and structured debt in the last eight years.
<h3 class="selectionShareable">Amplus Capital hits first close</h3>
<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Amplus+Capital+Advisors+Pvt+Ltd" target="_blank">Amplus Capital Advisors Pvt Ltd</a>, controlled by Ahmedabad-based Lalbhai Group, has made first close of $29 million in its new fund.
The target for the fund is $44.5 million, which the group expects to reach later this year. The fund will invest for majority stake with an average investment range of Rs 20-40 crore per deal in major cities.
&#8220;Many established developers are traditionally averse to high-cost debt. Further, they are looking for patient equity funding for their new projects. However, they are finding it difficult because there are just a few funds in this space and since most of the funds are focused on debt/ mezzanine funds,&#8221; said Anuranjan Mohnot, Managing Director, Amplus Capital, in a statement.
The firm&#8217;s first fund, a Rs. 135-crore fund raised in 2013, is expected to deliver 25 per cent IRR at the fund level, Mohnot said.
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India digest: Total raises funding from HDFC Capital; Amplus closes real estate fund

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India digest: Total raises funding from HDFC Capital; Amplus closes real estate fund

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