Altico Cap to provide Rs 300cr line of credit to Phoenix Group

Non-banking finance company Altico Capital today said it will provide a credit line of upto Rs 300 crore to realty player Phoenix Group. “The funding, which shall be made in tranches is proposed to be used by Phoenix largely towards refinancing of some existing lenders and for construction funding across two of its projects in Hyderabad,” Altico said in a statement.

Phoenix is developing a residential project ‘Halcyon’ at Jubilee Hills and a commercial project at Hafeezpet, in Hyderabad.

Recently, Altico Capital had also invested in a residential project of Bengaluru-based Mantri Group in Hyderabad.


Read more : DNA