Fire Capital to pump in $300 Million to India's realty projects
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Fire Capital to pump in $300 Million to India's realty projects
New Delhi: Real estate private equity firm Fire Capital is looking for investing $300 million in India's lucrative realty projects over the next three years. The fund would invest in residential projects with ticket size of $5-30 million, primarily in tier-II & tier-III cities. Earlier, the Fire Capital had formed a venture with Nagpur based Arcor Group and took a 75 percent stake in the integrated township for $14 million, with a project realization at $200 million. The project's first phase will be delivered in next 24-30 months. "We would invest $100 million each in the next three years as valuations are very attractive for us. We have already invested close to $100 million in realty projects and would take a more than 50 percent stake in a project so as to provide our technical expertise and best practices," said Om Chaudhary, CEO, Fire Capital. Fire Capital's current real estate fund is for about $121 million, and the company expects to float another realty fund to invest in India.

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