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Century Real Estate, one of South India's major property developers, raised INR 1,850 crore in debt funding to strengthen its presence in Bengaluru's thriving residential and commercial property sectors. The funding round, led by Ares Asia and SC Lowy, will support both ongoing and upcoming developments. Ares Asia committed INR 1,600 crore in two instalments, while SC Lowy contributed INR 250 crore. This capital boost aligns with Century's broader strategy to capture rising market demand, particularly in the Grade A commercial and residential segments.
Century Real Estate, a prominent Bengaluru-based real estate developer, raised INR 1,850 crore in debt funding to fuel its expansion plans and leverage the robust demand for residential and commercial properties in the city. Advertisement
The raised capital is earmarked for deployment across both ongoing and upcoming housing and commercial developments in Bengaluru. In a statement issued earlier this week, the company revealed that this debt funding was led by Ares Asia and SC Lowy. Ares Asia invested INR 1,600 crore in two tranches, while SC Lowy contributed INR 250 crore. The funds are expected to accelerate the company?s development initiatives, particularly in the residential and Grade A commercial property segments.
Ravindra Pai, Managing Director of Century Real Estate, expressed that securing INR 1,850 crore demonstrates the confidence financial institutions have in Century?s long-term vision and project delivery. He remarked that the strong demand in Bengaluru?s real estate market makes this capital infusion timely and strategic, allowing the firm to intensify its expansion drive.
Established in 1973 by P Dayananda Pai and P Satish Pai, Century Real Estate is considered one of the leading players in South India?s property market. The company boasts a land bank of more than 3,000 acres and a development portfolio exceeding 20 million square feet. Its diverse portfolio includes premium residential units, office buildings, hospitality projects, educational campuses, and integrated townships.
The infusion of INR 1,850 crore not only reinforces the developer?s financial muscle but also positions it favourably to execute high-value projects amidst soaring demand. Backed by significant land reserves and a diverse portfolio, the company appears poised to scale up its operations and consolidate its leadership in South India?s property market. As real estate investors look for stable growth and long-term value, Century?s strategic capitalisation may set the stage for notable urban development in the months ahead.
Source - PTI
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