Private equity made $ 268 crore of real estate investments through 53 transactions in India. In 2010, they spent $158 crore on 55 investments.
Highlights of Venture Intelligence study..!
# Indian developers are chasing private equity funds because of a liquidity squeeze after sales dried up, and banks and finance companies cut funding.
# Private equity deals are getting transacted at internal rates of returns, or the yield of the investment, of 25% to 30%.
# The largest investment last year was Jeff Morgan Capital’s $ 32 crore in Compact Disc India’s (CDI) film city project.
# Other major deals included Warburg Pincus LLC’s $27 crore investment in a residential joint venture with Lemon Tree Hotels and Blackstone Group LP’s $ 20 crore investment in Bangalore’s Manyata Embassy Business Park.
# Housing projects accounted for 57% of the transactions, while commercial projects made up 19%. the showed.
# A total of 69 private equity investments were made in India’s real-estate market in 2011, of which 53 were announced. In the previous year, 55 of the 63 deals were publicly disclosed.
# Buyout firms made 19 exits last year. A total of 14 were announced with a combined value of $ 60. 30 Crore with 8 in 2010..
# HDFC Property Ventures., which accounted for 5 of the exits, sold its stake in the Embassy Property Developments Ltd.’s IT (Information Technology) park in Bangalore in south India back to the developer for Rs. 490 crore in a deal funded by Blackstone.
# HDFC also divested its two-year-old investment in Nitesh Estates Ltd.’s (NITE) Bangalore mall project back to the developer for Rs. 450 Crore.
# Kotak Realty Fund realized $ 8.6 Crore from its stake sale in Peepul Tree Properties Pvt., a commercial information technology park in Mumbai, to Tata Realty Initiatives Fund.
About Venture Intelligence..!The Venture Intelligence service, launched in 2002, is the leading source of information and analysis on private equity, venture capital and M&A in India.
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