India-focused real estate investment company Yatra Capital Ltd said it has invested 28.01 mln eur in two joint venture projects in Bangalore.
Yatra said it has acquired a 30 pct stake in Palladium Constructions, for 17.86 mln eur, and another 30 pct stake in Platinum Hospitality Services, for 10.15 mln euro.
The company said with the new projects, it now has invested in 11 deals and has used 146.34 mln eur of 220 mln eur it has earmarked for investments in the Indian real estate market.
Yatra said Phoenix Mills Ltd, which focuses on developing shopping and entertainment hubs across the country, is its joint venture partner in both the developments.
Yatra in 2007 invested 3.73 mln eur in Phoenix for a 0.47 pct equity stake.
Source: Forbes