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PAG bets big on Indian real estate as NBFCs go slow on developer loans

Investor lent Rs 3,000 crore to property developers last year

real estate
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According to sources, PAG wants to double its investment this year in Indian real estate

Raghavendra Kamath Mumbai
PAG — an alternative investment firm focused on Asia-Pacific (APAC) — has taken a liking to Indian real estate, entering into multiple debt deals with property developers in the country. This comes at a time when most domestic non-banking companies (NBFCs) are going slow on lending to property developers.

PAG loaned about Rs 3,000 crore last year, said a senior real estate executive, adding it had become one of the single largest lenders to developers in 2022. 

PAG granted about Rs 8,000 crore in recent years prior to 2022 when most lenders, such as Edelweiss, Indiabulls and Piramal, were dawdling

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First Published: Feb 07 2023 | 12:02 AM IST

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