Kotak Realty reaps 25% return on Noida IT park sale
Kotak Realty Fund, the properties arm of Kotak Mahindra Bank, has reaped an IRR of less than 30% on the sale of its interest in a Noida-based information technology park.
The investor sold its 35% stake in the project located in the northern state of Uttar Pradesh back to real estate builder 3C Company, from which it bought the shareholding for around INR650 million ($12.3...
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