Mantri Developer receives Rs 145 crore from KKR
BENGALURU: Mantri Developer has signed a definitive agreement with leading global investment firm KKR under which KKR will invest Rs 145 crore in a luxury residential project in Bangalore developed by Mantri Developers.
The development spans 1.3 million square feet of premium residential apartments.
Sushil Mantri, Chairman and Managing Director of Mantri Developers, said, “We are thrilled that a global investor like KKR has shown confidence in our high-end project and is confident about the real estate market in Bangalore.”
Mantri Developers has developed over 18 million square feet across assets class and has over 23 million square feet under various stages of construction across residential sector, retail, hospitality, IT Parks and educational institutions in Bangalore, Chennai , Hyderabad and Pune .
Sanjay Nayar, CEO of KKR India , said, “We are focused on providing long-term solutions to India’s real sector by financing the projects of experienced partners like Mantri Developers. This investment marks the start of a relationship with Mantri and his team, and underscores our confidence in Bangalore’s real estate sector and economic prospects.”
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.