Moneycontrol
Aug 19, 2015 03:40 PM IST | Source: CNBC-TV18

Piramal Fund Management to exit from Worli project

Khushru Jijina, Managing Director of Piramal Fund said that the company plans to exit from two more projects, worth Rs 150 crore, in the coming quarters.

Piramal Fund Management has exited its Rs 200 crore fund in the 1973 Omkar Project in Maharashtra.

“We had invested around Rs 200 crore, which we are exiting with an internal rate of return (IRR) of 24 percent,” the company’s Managing Director, Khushru Jijina told CNBC-TV18.

The company plans to exit from two more projects worth Rs 150 crore in the coming quarters for which IRR will be 22 percent plus, he said.

The recent invested projects will be exited in 2016, he said adding that “we expect to return the entire money along with the IRRs to the investors by 2016 end.”
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