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Peepul Tree Properties Private Limited: Commercial, IT Park, Mumbai

Case Study: Office/IT Park


Peepul Tree IT Park-time of Investment (2006) Peepul Tree IT Park- construction phase (2007)

Peepul Tree IT Park-time of Investment (2006)

Peepul Tree IT Park- construction phase (2007)
   
Peepul Tree IT Park-after construction (2008) Peepul Tree IT Park-at the time of sale (2010)

Peepul Tree IT Park-after construction (2008)

Peepul Tree IT Park-at the time of sale (2010)
   
Total Investment : Rs. 95 Crores
Investment Return  : Rs. 413 Crores
Investment Multiple : 4.35
Investment XIRR : 48%

 

Peepul Tree

Key Facts

Developer: Infinity Developers, a division of K. Raheja Constructions group entity

Investment in: Building No 4, a private IT Park (“Peepul Tree”) with about 700,000 sq ft leasable area

Location: Goregaon, Mumbai, fully operational since May 2008

Fund: Kotak India Real Estate Fund I

Year of investment: 2006

Key Features

The said commercial IT Park is in Malad (East), a suburb of Mumbai, emerging as a preferred location for IT/ITES companies. Its key location features are:

  • Situated at a distance of 2 km from the Western Express Highway, and 13 km from Mumbai domestic airport.
  • It is located in close proximity to Malad, Goregaon, Jogeshwari and Powai, which are prominent residential hubs for employees of IT/ITES companies.

Project Description

Peepul Tree forms part of the larger business park project ("Infinity Park") being developed by K. Raheja Constructions group ("Developer") at Malad (East) proposed to comprise of other IT Park buildings. Peepul Tree was purchased by the Fund from the Developer whilst it was under construction vide an agreement to purchase in May 2006.

Peepul Tree has ~ 700,000 square feet of leasable IT/ITES space built on a cold shell basis. It is fully developed and has been operating since May, 2008.

Developer Desciption:

K. Raheja Constructions and K. Raheja Hospitality are part of G.L. Raheja's conglomerate. K.Raheja Constructions has successfully completed about 2000 projects within India of residential, industrial and commercial kind.

For more information, please visit http://www.krahejas.com/