Xander Finance Invests Rs 300 cr in Chennai and Gurugram

Xander Finance continues to be focusing on Indian market with its recent investments in Chennai and the National Capital Region (NCR). The non-financial banking company (NBFC) has invested a total of about Rs 300 crore in 2 residential projects.

The non-banking financial arm of Xander Group has first invested more than Rs 120 crore in a plotted development of a township project in Chennai developed by VGN Properties. The project named as VGN Cosmopolis is located near Ambattur locality of western Chennai.

The company has also funded around Rs 160 crore to a low-rise residential project situated in Sector 67 of Gurgaon which is developed by Ansal API.

There is no risk involvement investing in both of the properties as one of them is a lowrise and the other one is a plotted development which enables Xander Finance to step in these projects before the commencement of sales. Therefore, the company is confident for the cash flows soon to be raised from these two projects, an opinion given by Amar Merani, MD, Xander Finance.

The debt will be settled in next 4-5 years with disbursement in parts depending on the certain project-related milestones.

Source: ET Realty

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