Altico commits $15m to Mumbai real estate

The firm is planning to expand its business outside residential development to construction financing and commercial projects.

Altico Capital, the non-banking financial company (NBFC) of Clearwater Capital Partners, has invested INR1 billion (€13.4 million; $14.9 million) in a Mumbai residential project.

The property is located at Churchgate in south Mumbai, comprising three- and four-bedroom apartments with a total saleable area of around 100,000 sq.ft. It is being jointly developed by local developers Rajesh Lifespaces and Suvidha Group.

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