Tridhaatu Realty looking towards PE firms

Realty developer Tridhaatu Realty is in talks with private equity firms to raise about Rs 450 crore to fund development of its ongoing projects and support further expansion across Mumbai over the next 3-4 years. The company has initiated talks with financiers for pure equity participation in a platform that will include its ongoing projects and few redevelopment projects to be added later. Currently, the Mumbai-based developer has 14 ongoing projects in central part of the city with 2.5 million sqft space. The proposed fund raising will be in addition to the company’s recently formed partnership with ASK Property Investment Advisors to develop a slew of the company’s redevelopment projects in the in south and central part of Mumbai. ASK Property Investment Advisors will be investing Rs 150 crore in Tridhaatu’s projects through this alliance and has already invested Rs 44 crore as first round of this planned investment.