Puranik Builders have received Rs. 300 crores funding from global equity investor KKR to fund Puranik Builders’ two residential projects that are coming up in Pune, as per reports.
Puranik Builders is developing two residential projects Abitante and Aldea Espanola in Pune's Bawadhan and Baner locality which are currently under construction.
An agreement was signed betwee KKR’s India arm, KKR India Assets Finance Pvt Ltd and Puranik Builders. As per the agreement KKR India Assets Finance will remain invested in both the projects until completion over the next six years.
These projects are spread over a total 4 million sq ft, including 1.5 million sq ft in Aldea Espanola and 2.5 million sq ft in Abitante. The developer has already completed and delivered 0.5 million sq ft of Aldea Espanola, while has begun construction of Abitante recently.
Both these projects are spread across 4 million square feet – Aldea Espanola (1.5 million square feet) and Abitante (2.5 million square feet).
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