L&T Finance puts Rs 150 crore in Pune housing projects

MUMBAI: L&T Finance Holdings, a Larsen & Toubro subsidiary, has invested around Rs 150 crore in Pune-based Saarthi Group's two residential projects, said two persons in the know.

The capital is being infused as debt for construction finance, while some of the money will be used to repay old loans. Both the projects entail around 1 million sq ft of residential projects.

An email query to L&T Finance Holdings remained unanswered until the time of going to press. Saarthi Group could not be reached for a comment, while transaction advisor Elysium Capital Advisory declined to comment.

Saarthi Group has so far delivered 30 projects totaling more than 3 million sq ft over last 18 years. The developer is currently developing more than 2 million sq ft spread across various parts of Pune.The NBFC recently extended 350 crore funding to realty developer Supertech's project in Greater Noida.