Goldman to invest Rs 900 cr in Piramal Realty

Leading global investment bank Goldman Sachs has decided to invest Rs 900 crore ($150 million) in Piramal Realty, the real estate development arm of the Piramal Group, for a minority stake.

The funds will be used to expand the company’s current real estate portfolio and acquire prime properties in and around Mumbai, Piramal Realty said.

The investment comes close on the heels of another one that Piramal Realty got through Warburg Pincus. On July 21, 2015, private equity firm Warburg Pincus had announced its intention to invest Rs 1,800 crore ($284 million) for a minority stake in Piramal Realty.

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