Hyderabad, Dec 21 (PTI) Altico Capital, an NBFC, todaysaid it recently deployed Rs 1,250 crore across five realestate projects here and in Pune.
The company invested Rs 500 crore in the city-basedPhoenix group for construction and development of IT SEZprojects here and Rs 375 crore in Marvel group in Pune for abouquet of projects, among others, it said in a statement.
Recently, Altico had announced that it expects todeploy Rs 3,000 crore in the balance part of FY18 in the realestate sector.
Altico Capital's Chief Executive Officer Sanjay Grewalsaid the investments reflect their continued focus on segmentssuch as affordable and mid-income housing which make up morethan 50 per cent of their current portfolio.
"We continue to maintain healthy asset quality of nilNPAs for the fifth consecutive year of our RE (real estate)lending business, even in an environment impacted by thetemporary disruptions caused by otherwise stable governmentpolicies around demonetisation, RERA and GST, therebydemonstrating our high underwriting standards and superiorasset management practices," Grewal said.
Since inception, Altico has deployed more than Rs8,500 crore across over 100 projects covering more than 100million sq ft area in seven cities and continues to maintainstrong asset profile, the release said. PTI GDKGK.
This is unedited, unformatted feed from the Press Trust of India wire.