SBI invested Rs 714 crore in TCG’s Gurugram project
State Bank of India has invested Rs 714 crore in New York headquartered TCG Urban Infrastructure, who is developing world trade centre in Gurugram with one million sq ft of leasable space.
The total cost of the project is expected to be Rs 1,211 crore of which Rs 497 crore has been invested by the promoter, according to documents accessed through CRE Matrix, a real estate data analytics firm.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowChief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisit“The Chatterjee Group (TCG), is a New York based company having a sizeable land bank in India. For the particular project in Gurgaon also, the company has infused substantial capital and for balance construction work, it has raised from market,” said one person aware of the deal.
According to the registered document, TCG Urban Infrastructure Holding Pvt. Ltd. is promoter of Energetic Construction Pvt. Ltd, who is executing the project.
The project includes 940,761 sq ft of office area and 72,407 of retail area. TCG declined to comment on the deal while SBI did not respond to the email query.
Private equity investors injected USD 10.7 billion (Rs 843 billion) into the sector across nearly 100 deals from 2021 to 2023. Transaction volumes have increased by over 25% annually, with investment values rising 13.7%, reaching USD 3.9 billion in recent years.
The average deal sizes
