ET Realty
Godrej & Piramal invest Rs 11 crore in Isprava
Founder of Infosys, SpiceJet and cricketer Sunil Gavaskar already have villas in company’s project.
NEW DELHI: A consortium of HNIs including Nadir Godrej of the Godrej Group and Anand Piramal, Promoter of the Piramal Group has invested Rs 11 crore in real estate firm Isprava.
Nadir Godrej of Godrej Group of companies said, “We have known the promoters of Isprava for a very long time and we even had a share holding in the predecessor company as well with current investment of 10% of the funded raised.”
The company develops high-end holiday homes in places like Goa and Nilgiris with cost ranging from Rs 3-25 crore.
Founder of Infosys, SpiceJet and cricketer Sunil Gavaskar already have villas in company’s project.
The company also helps investors to rent out or lease out homes. “The rental income makes it affordable for investors and Gross yield on the property varies from 7 -9 % while net yield after expenses can be from 3 -5 %,” says Godrej.
Talking about the homes, Nibhrant shah, Founder and CEO, Isprava said, “Each Isprava home is designed by leading international designers, fully furnished using antique furniture sourced from old palaces and mansions and is maintained by a property management team on the owner’s behalf.”