Rustomjee received an investment of Rs 370 Cr 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.
