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The Xander Group Invests 370 Crores in Rustomjee


April 21, 2014 - Mumbai, Maharashtra, India

Rustomjee received an investment of Rs 370 Cr (~US$61.5 MM) in one of its group companies, Kapstone Constructions Pvt Ltd (KCPL) from the private equity real estate arm of the global investment firm, The Xander Group Inc. This investment in KCPL and the partnership with Xander reinforces the growth momentum of the company. The capital received will be utilized for reducing debt and for further growth of the Rustomjee group.
 
Commenting on the transaction, Boman Irani, Chairman, Rustomjee said, “This is the fifth private equity investment in our company and shows investors’ confidence in us. We are pleased to join hands with Xander. Their extensive industry knowledge and global experience will add significant value to our company. Our emphasis on transparency and fair dealing has ensured that investors are happy to be associated with our projects. We have provided successful exits to all our previous investors.”
 
Commenting on the partnership, Rohan Sikri, Partner, Xander Investment Management Pte. Ltd. said, “Rustomjee is well positioned to capitalize on their development expertise across townships, premium residential projects and redevelopment schemes in Greater Mumbai and we are pleased to partner with them. This investment is representative of our continuing investment interest in the Indian real estate market for well-positioned projects with quality partners."
 
KCPL is currently developing Rustomjee Urbania, an IGBC certified, self-sufficient township in Thane, spread across 127 acres. The township will redefine standards of urban living with its modern living spaces, education, retail and entertainment centers complemented by unique amenities like padded play areas for children making it the most sought after residential project in Thane.

About Rustomjee

Rustomjee has emerged as a notable name in the real estate sector since its inception in 1996. The company has already delivered nearly 8.4 million sqft of residential and commercial space in Mumbai. Rustomjee is amongst the most preferred developer for discerning home-seekers because of its construction quality, world class design, eco-friendly environment, wholesome living, easy accessibility and state-of-the art amenities. The company’s focus is to provide customers the finest living environment, thus giving home buyers the experience of a life time. Rustomjee also holds the honor of being one of the first Indian Real Estate Development Companies to get an ISO 9001 certification. Rustomjee is now deemed to be an ISO 9001-2008 company.
 
About The Xander Group Inc.
                                                                                                                                                 

The Xander Group Inc. is a global investment firm focused on the infrastructure, hospitality, retail and real estate markets. Since 2005, the firm has committed over US$ 2 billion of capital to the Indian market across private, public and credit investments. The firm combines extensive industry knowledge with global experience and relationships, and works with quality promoters, partners and companies across the growth cycle to build and scale businesses and generate superior long term returns.  Please visit www.thexandergroup.com for further information.

Source: Business Wire India

BusinessWireIndia

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