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IL&FS Investment to close at least realty 10 deals in FY11

IL&FS Investment to close at least realty 10 deals in FY11
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First Published: Fri, Jun 25 2010. 12 12 PM IST
Updated: Fri, Jun 25 2010. 12 12 PM IST
Mumbai: IL&FS Investment Managers Ltd, a unit of IL&FS group, is looking at closing at least 10 realty deals by the end of the year ended 31 March 2011, a top official told reporters on Friday.
“As of now we have done 30 deals, that is in the last three years. We are looking at closing at least another 10 deals by the end of the year,” Shahzaad Dalal, vice chairman, IL&FS Investment Managers, said on the sidelines of a CII conference.
IL&FS Investment has a realty fund known as IL&FS Realty Fund, which has a corpus of $1.6 billion, of which it has already disbursed $1.2 billion.
“We can raise further funds as and when we disburse of the existing corpus. We are seeing an uptake in the realty sector, while the prices have remained steady,” Dalal said.
IL&FS also has an infrastructure fund of around $660 million.
IL&FS Investment Managers shares were up 0.23% at Rs44 in a weak Mumbai market.
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First Published: Fri, Jun 25 2010. 12 12 PM IST