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Exclusive: IDFC Alternatives backs Sunworld Developers’ residential project

Shah Junaid/VCCircle

The real estate investment arm of IDFC Alternatives has invested in a residential project of Sunworld Developers Pvt. Ltd, two people familiar with the development told VCCircle. The private equity arm of infrastructure-focused lender IDFC Ltd made the investment from its third real estate-focused fund, IDFC SCORE Fund. The fund had hit final close at Rs 760 crore ($114 million) in October last year, less than six months after making its first close at Rs 450 crore. Noida-based Sunworld has a bunch of projects spread across the city and also in the adjoining Greater Noida. Some of its ongoing projects...

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IDFC Score Fund is a $112 million real estate fund managed by IDFC Alternatives Ltd. It provides capital to mid-income housing projects through structured debt.The fund invests in residential projects across Mumbai, Delhi-National Capital Region, Bengaluru, Pune, Chennai, Hyderabad and Kolkata.

Head office:
Mumbai
Year Founded:
2016
Website:
Management:

Sunworld Developers Pvt. Ltd. is a real estate development company. It undertakes the residential and commercial projects. The company was founded in 2001 and is based in Noida, Uttar Pradesh.

Head office:
Noida
Year Founded:
2001
Website:
Management:
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