Parsvnath Developers, PE firm Sun-Apollo tie up for housing project

MUMBAI (makemystocks) : Parsvnath Developers Ltd Tuesday has inked a pact with global real estate private equity fund Sun-Apollo for its funding its residential project in Ghaziabad, Uttar Pradesh.

Sun-Apollo India Real Estate Fund LLC will invest Rs 1 billion for a 49.9% stake in the housing project.

Construction of the project, which is spread over 31 acres, has already started and is being developed by Parsvnath Buildwell Pvt Ltd.