Rodium Realty, a Mumbai-based construction company, has taken a financial help of Rs 36 crore from a non-banking financial company Capri Global Capital in the form of structure debt to speed up its construction work of the project X’point in the city.
The amount is invested in the company’s premium mixed-use redevelopment project, X’point which is located on S.V. Road in Kandivali suburb of Mumbai. The project comprises two and three bedroom apartments with retail shops.
With this fund, Rodium will accelerate construction process and complete the project within the given timeline. With lots of confidence the Chairman and Managing Director of the company – Deepak Chheda is positive about this investment to be fruitful and able to achieve planned cash flows.
“This investment is in-line with our focus on funding to mid – affordable housing segment, the idea is to extend financial support customized to the needs of today’s mid-sized developers focused in affordable to mid segment, in order to help them pace up sales and deliver projects in a timely manner while maintaining the highest quality,” says Rajesh Sharma, Director, Capri Global Capital.
Source: ET Realty