Saffron Group invests in Parsvnath project

Saffron Group has invested up 30 per cent in a realty project of Parsvnath Developers in Mumbai.

This Rs. 186 crore project has been picked up by this firm which manages real estate investment funds through two of its funds-Yatra Capital and Saffron Real Estate Fund I (SIREF I). 

Jarul Promoters and Developers, a special purpose vehicle of Parsvnath, is also developing a BEST bus depot near Bandra-Kurla Complex.

This development means that investment by Saffron's funds valued the project at Rs. 620 crore. 

The depot land has been bought by Parsvnath in open tender for Rs. 42 crore.

Media reports say that analysts feel that though private equity players have become cautious in their investments now, funds will always be available for quality real estate companies. 

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