An undisclosed amount has been invested by Delhi-based private equity firm Red Fort Capital for development of two residential projects which are slated to come up in Delhi-NCR. The said projects which have received the backing of Red Fort Capital are Esencia Phase II in Gurgaon which is a 108-acre affordable housing project and Delhi Heights in the heart of Delhi which is a 38-acre residential and mixed-use project. According to company sources investment manager second fund have been utilized to invest in these projects.
The Esencia Phase II project is a joint venture between Red Fort Capital and Delhi-based Ansal Properties & Infrastructure Ltd. In the early part of this year Red Fort Capital had put in Rs 200 crore to pick up a 26 percent stake in Ansal Properties & Infrastructure Ltd. Going by the reports of VCCircle, it seems that apart from this project the joint venture between these two firms will also develop another 108-acre township project that is located adjacent to the 112-acre Esencia township project in Gurgaon which is being developed by Ansal Properties & Infrastructure Ltd.
According to the company the residential projects are in the final stages of execution whereas the Esencia Phase II project is already into sales and construction.
The Esencia Phase II project is a joint venture between Red Fort Capital and Delhi-based Ansal Properties & Infrastructure Ltd. In the early part of this year Red Fort Capital had put in Rs 200 crore to pick up a 26 percent stake in Ansal Properties & Infrastructure Ltd. Going by the reports of VCCircle, it seems that apart from this project the joint venture between these two firms will also develop another 108-acre township project that is located adjacent to the 112-acre Esencia township project in Gurgaon which is being developed by Ansal Properties & Infrastructure Ltd.
According to the company the residential projects are in the final stages of execution whereas the Esencia Phase II project is already into sales and construction.
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