Walton Street Blacksoil Fund exits from Bollineni's arm

Walton Street Blacksoil Fund exits from Bollineni’s arm
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Walton Street Blacksoil Fund exits from Bollineni’s arm 

Highlights

WSBREDF announced today that it has made an exit worth Rs 202 crore across multiple investments with Krishnaiah Projects Pvt Ltd (KPPL) a real estate arm of Bollineni Group.

Hyderabad: WSBREDF announced today that it has made an exit worth Rs 202 crore across multiple investments with Krishnaiah Projects Pvt Ltd (KPPL) a real estate arm of Bollineni Group. These investments were spread across multiple residential projects located in the southern metropolitan cities of Bengaluru, Hyderabad, and Chennai. All these projects cater primarily to the mid-income segment situated in prime areas of their respective cities.

Commenting on the exit, Vimal Jangla on behalf of Walton Street Blacksoil (WSB) Fund said, "The southern real estate market has witnessed enormous growth in the past couple of years, owing to matured infrastructure and growth of IT/ITeS, manufacturing, logistics and e-commerce businesses. The industrial growth coupled with excellent social infrastructure has supported the growth of residential real estate even during the pandemic.

The underlying projects across these multiple investments with KPPL performed well ahead of their business plans exceeding our underwriting expectations both on the sales and construction front. "We value and cherish the partnership with KPPL (Bollineni Group) and endeavour to take this partnership to the next level. We are already in discussions and evaluating multiple future investment opportunities with the group," he added.

Bollineni Group is a Hyderabad-based conglomerate having 15 years of experience and developed 3 million sft in real estate development. Apart from this industry, the organization has business interests in other sectors such as infrastructure, steel, hospitals, and education.

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