Taking its diversification strategy further, Piramal Group’s financial services arm Piramal Fund Management has expanded its portfolio to offer flexi lease rental discounting (LRD). Through these transactions, the fund will discount future cash flows of completed and leased commercial assets including office blocks and retail malls, said a top company official.
The fund has already identified an initial pipeline of deals and is in advanced talks with two developers–one each in Mumbai and Bengaluru–to conclude LRD deals totaling Rs 1,500 crore for their leased office complexes. The fund intends to scale its book size up to Rs 10,000 crore by 2017-18.
Read more: Economic Times
