Adani Group’s NBFC Arm Invests Rs 50 Crore PRA Realty

The NBFC arm of Adani Group, Adani Capital will invest Rs 50 crore in PRA Realty’s projects in Pune.

Adani Capital has partnered with PRA Realty to provide capital for its project in Pune, the company said in a statement. This investment will be utilised towards the development of a mixed-use project.

With a focus on wholesale and retail lending, Adani Group has entered into the financial services business.

PRA Realty, promoted by Rustom Bharucha has close to 5 million sq ft currently under development and has delivered over 1 million sq ft. It is one of the fastest growing real estate developers in Pune.

Adani Group stocks on the NSE such as Adani Enterprises, Adani Power and Adani Port & SEZ were trading higher by upto 0.66% at around 0959 hours.

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About Suhani Varma