May 16, 2007

Yatra Capital to invest Rs 120 cr in Indian real estate

Real estate investment company Yatra Capital Limited today announced its foray in India with plans to invest 21.6 million Euro (around Rs 120 crore) in a joint venture firm. The JV company set up with Kolte Patil Developers will develop three residential sites in Pune, a company statement said. "The JV opens our investment account in India and is in alignment with our strategy of partnering experienced developers to create shareholder value for Yatra," Yatra Capital Chairman Nigel Broomfield said. Yatra Capital is an Indian property fund based in Jersey and is listed on Euronext, Amsterdam. In December 2006, Yatra had raised 100 million Euro to be invested in the Indian real estate market. Saffron Capital Advisors Limited has sourced, evaluated and advised on the joint venture, the statement said.