<article><a style="color: #000080;" href="http://dealstreetasia.com/tag/clearwater-capital" target="_blank">Clearwater Capital</a>-backed <a style="color: #000080;" href="http://dealstreetasia.com/tag/altico-capital" target="_blank">Altico Capital</a> has invested around Rs 400 crore ($59 million) in two real estate projects in the country.</article>

<a style="color: #000080;" href="http://dealstreetasia.com/tag/clearwater-capital" target="_blank">Clearwater Capital</a>-backed <a style="color: #000080;" href="http://dealstreetasia.com/tag/altico-capital" target="_blank">Altico Capital</a> has invested around Rs 400 crore ($59 million) in two real estate projects in the country.
The non-banking finance company has closed a Rs. 225 crore ($33 million) transaction with Noida-based realty firm based<a style="color: #000080;" href="http://dealstreetasia.com/tag/panchsheel" target="_blank"> Panchsheel group </a>for its brown-field residential project being developed by Panchsheel Buildtech Pvt. Ltd. in Greater Noida.
&#8220;The proceeds of the funding shall be predominantly used for completing the construction of the project and shall be disbursed in  tranches,&#8221; Altico said in a release.
Altico has been actively investing in Delhi and the adjoining regions. It has deployed over a Rs 1000 crore ($147 million) in the NCR market having closed transactions with Vatika, SARE Homes and now Panchsheel.
&#8220;We will continue to back strong and resourceful Developers who have consistently shown superior execution and delivery track records in their respective micro markets. Our focus will remain on funding mid-income and affordable residential projects with some degree of established marketability,&#8221; said Sanjay Grewal, CEO, Altico Capital.
Altico has also closed another transaction with Pune-based <a style="color: #000080;" href="http://dealstreetasia.com/tag/pharande-group" target="_blank">Pharande group</a> wherein it has committed into INR 175 crore ($26 million) for its brownfield residential project ‘Pharande Puneville’, off the Mumbai-Pune Highway.
The proceeds of from this funding will also be used for competing the construction of the project and be disbursed in tranches.
In July this year, Altico had sanctioned Rs 180 crore  against two other under construction projects of the Pharande group, Woodsville and L-Axis, also in the PCMC area. Mumbai based Investment Banking firm, Elysium Capital was the sole advisor to the transaction.
Last week Altico Capital had announced that it it has closed a deal worth around Rs 700 crore ($103 million) with <a style="color: #000080;" href="http://dealstreetasia.com/tag/vatika-group" target="_blank">Vatika Group</a> in Gurgaon. It recently invested round Rs100 crore ($15 million) in a residential project of Mumbai-based <a style="color: #000080;" href="http://dealstreetasia.com/tag/rajesh-lifespaces" target="_blank">Rajesh Lifespaces</a>. In September, Altico also invested $75 million three residential projects of Mumbai-based <a style="color: #000080;" href="http://dealstreetasia.com/tag/nirmal-group" target="_blank">Nirmal Group</a>.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-real-estate-firm-vatika-group-raises-103m-funding-altico-capital-61282/" target="_blank">India: Realty firm Vatika Group raises $103m from Altico Capital</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-altico-capital-kkr-invest-63-5m-in-sare-homes-gurgaon-project-59617/" target="_blank">India: Altico Capital, KKR invest $63.5m in SARE Homes’ project</a>

India: Altico Capital invests $59m in two real estate projectsIndia: Altico Capital invests $59m in two real estate projects

India: Altico Capital invests $59m in two real estate projects

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India: Altico Capital invests $59m in two real estate projects

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