Axis Asset Management Company on Thursday said it has signed a deal with city-based realtor Akshaya Pvt Ltd to invest Rs 60 crore under the maiden AXIS RERA fund for the latter’s upcoming project near here.
The investment by Axis AMC in the real estate developer was the first investment of real estate alternative investment fund, a company statement said here.
The fund would be invested in Akshaya Group’s township project ‘Orlando’ on the city outskirts.
Commenting on the deal, managing partner of Axis Asset Management Company Ltd Balaji Rao said, “Akshaya is one of the most trusted and renowned brands in the South...we see a synergistic relationship between Axis and Akshaya.”
“I believe that in the future real estate will be tilting towards themed and service projects and Orlando is an example of the same,” he said.
On receiving the funds from Axis AMC, Chairman and Chief Executive Officer (CEO) of Akshaya Pvt Ltd, T Chitty Babu said, “We feel privileged to be the first real estate company to be funded by Axis AMC’s maiden real estate fund - Axis RERA fund.”
“We thank Axis AMC for placing their trust and faith in our brand and for choosing to invest in Orlando, one of our upcoming projects,” he said.