Piramal Capital and Housing Finance Receives Global Recognition

Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has been recognized as the 'Best Overall Investment Manager' for Asia and India at the 14th Annual Global Real Estate Survey conducted by Euromoney. 

Piramal Capital and Housing Finance has won this award in India for four consecutive years for setting new benchmarks and outstanding performance in the industry.

In addition, it also marks its victory in one of the largest market - Asia this year for the first time by demonstrating its commitment & remarkable performance in the global real estate market. 

Khushru Jijina, Managing Director, Piramal Capital & Housing Finance, said, "PCHFL has been consistently recognized by the industry and its peers for its quality, performance and professionalism. 

We believe that awards are a validation of our Group values of Knowledge, Action, Care and Impact and a testament of our employees' efforts who strive to be the best, as well as our developer partners who motivate us to do better. We are delighted to win this award and are thankful to our stakeholders for their steadfast support."

This prestigious award has been voted and nominated by industry peers such as advisors, developers, investment managers, banks and corporate end users. Euromoney Real Estate Survey is one of the most prestigious and widely recognized global surveys that canvasses the opinions of the leading firms in the real estate sector, across the globe.

Company Awards:

Best Domestic Fund House by CNBC Awaaz in 2014

Best Overall Investment Manager (India) by Euromoney's Real Estate Awards for 3 years in a row - 2015, 2016 and 2017

Firm of the Year (India) by the PEI Global Private Equity Real Estate (PERE) awards in 2014 and 2016

Great Places to Work in Financial Services: 2016, 2017

MCHI CREDAI Golden Pillar Awards: Piramal Housing Finance - Emerging Home Loan Provider of the Year and Piramal Finance for Leading Real Estate Project Finance Company of the Year

Piramal and Ivanhoé Cambridge Announce Joint Residential Developments in India

Piramal Enterprises Limited has announced a strategic partnership with Ivanhoé Cambridge, a real estate subsidiary of CDPQ (Caisse de dépôt et placement du Québec), to provide long term equity capital to blue chip residential developers across the five major metro cities in India.

Ivanhoé Cambridge is allocating an initial US$250m for this purpose. PEL will commit an additional amount alongside and co-invest between 25% and 50% of each transaction.

There is a strong demand for equity in the capital stack as blue chip real estate developers increasingly prefer the option of partnering with investors in the early stages of the development life cycle over high cost financing.

Naturally, the capital will be made available to a selective list of Grade A developers who have already demonstrated a track record of execution capability, corporate governance and strong return potential. The investment focus shall include the Mumbai Metropolitan Region, Delhi (NCR), Bangalore, Pune and Chennai.

Ajay Piramal

Ajay Piramal, Chairman, Piramal Enterprises Limited said, "We are extremely pleased to be partnering with Ivanhoé Cambridge, a global institutional leader of great reputation with a long term value system and investing philosophy aligned with our own. Given the scale of our existing real estate offering and roster of existing developer relationships, the partnership will enable us to execute on very compelling opportunities to deliver high quality residential developments in the local markets that we service."

Khushru Jijina, Managing Director, Piramal Fund Management said, "This alliance with Ivanhoé Cambridge is consistent with our philosophy of acting as a perpetual provider of capital and underlines the confidence reposed by institutional investors time and again in our abilities as a fiduciary. We believe that the timing is opportune for the provision of both pure and preferred equity capital at an early stage in the project life cycle. Such equity funding with Tier 1 development partners will enable us to deploy capital over a longer time horizon and facilitate participation in larger projects with the ability to generate returns across real estate cycles."

Michael Sabia, President and Chief Executive Officer, CDPQ, said: "India represents a key market for our global growth.  We look forward to a long-term and fruitful business relationship with Piramal in the years to come."

Daniel Fournier, Chairman and Chief Executive Officer, Ivanhoé Cambridge said: "We are excited to participate in India's success story alongside one of India's leading fund manager. Piramal, with its long experience, impressive track record and strong relationship with India's top developers, will certainly play a key part in the success of this important investment. India's compelling demographic and economic fundamentals combined with supportive government policies bode well for a long-term residential development strategy such as this one."