NEW DELHI: KVN Properties, a real estate firm, plans to raise ₹1,000 crore from Kotak Realty Fund to fuel its expansion, according to sources.
Founded by Venkat K Narayana, former CEO of Prestige Estates Projects Ltd., KVN Properties is based in Bengaluru.
Sources indicate that the firm is currently negotiating with Kotak Realty Fund for growth capital.
The company plans to raise funds through the issuance of debentures.
KVN Properties has not commented on this matter.
This fundraising initiative will facilitate KVN Properties’ expansion into prime land parcels across India, expected to be developed through joint development agreements (JDA) or joint ventures (JV) with leading property developers.
The company aims to make 10 million sq ft of land available for development by 2025-26.
Recently, KVN Properties has finalized a joint venture with the Puravankara Group for the development of a 24.59-acre land parcel in North Bengaluru and has also entered into a management arrangement with Assetz Group for a 5.67-acre parcel in the same area.
These projects are projected to have a gross development value (GDV) of over ₹4,300 crore.
