Saffron Group:The Group, a brain-child of Ajoy Veer Kapoor and his peers from the banking fraternity, is the promoter of Euronext listed Yatra Capital, an India-focused real estate fund.
"Our strategy is to be a leading player in the field. We don't have any short-term view. The industry is growing and it will yield better results for another 10-15 years," Kapoor said.
Saffron aims leading place in realty funding
Kolte Patil Developers Ltd. and Yatra Capital Ltd.
Yatra Capital has bought a 49 pct stake in Kolte Patil for 21.6 mln eur. They will initially develop three separate residential projects in Pune.
This means just one thing: upcoming projects are not expected to return in less than 5 years, and Saffron is waiting in the wings to pick up distress sales of properties.
Parsvnath Developers ties up with two Saffron Group managed funds, Yatra Capital and Saffron India Real Estate Fund I, for developing the BEST bus depot near Bandra Kurla Complex in Mumbai.
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