Financial Insights

CPPIB and Tata Realty form JV for commercial development in India

Tata Realty and Infrastructure Limited (TRIL) and Canada Pension Plan Investment Board (CPPIB) have entered into a joint venture worth Rs 5,300 crore to own and develop commercial space in India.

The total equity value of the JV is Rs 5,300 crores, Rs 2,600 crore being CPPIB’s commitment. The joint investment platform will target stabilized and developed properties with an aim to control over Rs 13,000 crores worth of properties under assets under management.

“This is the beginning of a very strong partnership…With CPP Investments as a strategic long-term partner, the vision of this joint venture is to provide world-class sustainable office space solutions to a diverse set of businesses. This will enable the opening up of new business opportunities for Tata Realty and Infrastructure, allowing us to accelerate our current growth,” Sanjay Dutt, MD & CEO of TRIL.

The JV will be seeded by two properties of TRIL worth around Rs 8,000 crores with an aim to add in Rs 2,000 crore later.

Highlight by Aman Agarwal.

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