Kumar Builders KUL Nation funded from ICICI Prudential PMS real Estate Portfolio
If sources are to be believed, real estate developer Kumar Builders raised funding worth Rs 80 crore from ICICI Prudential PMS Real Estate Portfolio, for its Pune based integrated township project KUL Nation which is spread over 103 acre of land. Kumar Builders is Pune based land developer.
Although the officials of the organization are trying to not to comment on it, but Head of Real Estate for ICICI Prudential PMS, Rahul Rai mentioned about the deal under the consideration to get confirmed. He also mentioned that the transaction will be done through a structured deal. Nothing was disclosed regarding the Investment Coupon Rate of this deal.
Phase 1 of Kharadi based KUL Nation is ready for possession where 1 BHK and 2 BHK apartments are available to choose from. These funds intend to exit this investment after the gap of 3-5 years.
ICICI Prudential PMS had also funded Lalit Kumar Jain led Kumar Builders’ Mahalunge based township worth Rs 47.5 crore which is spread over 105 acre of land near Hinjewadi, which is a suburban area and situated on the outskirts of Pune. ICICI Prudential PMS is backing the city based land developer for the second time.
With experience of half a century, Kumar Builders has served the generations and variety of people. Their vast experience has helped them to emerge as a leading land developer in town. They have developed 52 projects in last decade which were delivered on time for possession. Marking one’s presence across 32 locations is not everyone’s cup of tea, but Kumar Builders has done it as well.
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