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PE firms help investee realtors finish work

MUMBAI:Private equity firms that have pumped big money into Indian real estate are increasing engagement with investee companies, supporting them in execution of projects and in dealing with the challenges thrown up by the Covid-19-led slowdown.

Both developers and institutional investors were hoping for a recovery in housing sales this summer, but the virus outbreak and ensuing lockdown have raised new barriers.

With the slowdown hitting the economy hard, these PE firms have now stepped up interaction with investee developers to help them deal with cash crunch and stalled construction activity.

“During this lockdown, effective management of our portfolio is our top priority. We have been conducting frequent reviews with our developer partners with the focus being two-fold: managing cash flows during the lockdown and devising a strategy to be executed once the lockdown is lifted,” said Sharad Mittal, CEO,Motilal Oswal Real Estate Fund(MORE). “Agility and a strong bias for action will help developers recover from this crisis.”

MORE is working with developer partners in Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad and Ahmedabad to develop strategy for effective cash-flow management.

May 25, 2020

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