- CGCL is participating
in construction finance for 2 Projects being developed by Monarch Universal Group in Kalamboli,
Navi Mumbai
- Capri Global to
continue focusing on the residential real estate projects
Capri Global Capital
Ltd (CGCL), one of the country’s leading non-deposits accepting, non-banking
finance company, headquartered in Mumbai has entered into a deal with Monarch Universal
Group to fund two residential developments in Roadpali, Kalamboli. Monarch
Universal Group is a well-known developer with a track record of delivering
residential and commercial projects primarily in Navi Mumbai area.
Mr. Ramesh
Kelkar, Head of Risk, Wholesale Lending, Capri Global Capital Limited said, “This
transaction is a testimony to the fact that residential developments on the
outskirts of Mumbai where there is an emerging market for quality real estate and
will continue to attract interest of financial institutions. Monarch Universal
Group is a well-respected group of Navi Mumbai and has delivered several large
residential projects in the past. We are excited to support Monarch Universal Group
for these projects and are actively looking at similar deployment opportunities
across India over the next few quarters”.
While the demand in 2013 for
residential real estate was subdued, in 2014, CGCL believes, in the mid-income
housing segment, the market will continue to remain attractive, for the
products which are realistically priced. The Company intends to focus primarily
on such projects to provide finance, Mr.
Kelkar added.
