The Tata group company has earmarked around Rs3,000 crore as capital expenditure for the next one year, to be financed by internal accruals.
The project would be funded primarily through capital that it received separately from Warburg Pincus and Goldman Sachs in 2015.
The first Asia fund corpus would be around $300 million.
This is India’s biggest land deal in the year so far.
IIL has now become a wholly-owned subsidiary of Indiabulls Real Estate
Firm had left India in 2011 after none of its projects took off.
The two partners will invest up to $600 million over the next 5-6 years.
To scale up its hiring business.
Berggruen Holdings has so far invested $80m in its India arm.
The investment marks ASK’s entry into the commercial real estate segment