JSW Realty Seeks $169 Mn from Tata Capital for Mumbai Project

JSW Realty is in talks to seek $169 million loan from Tata Capital for a project in Mumbai. The real estate entity of the JSW Group is seeking five-year loan priced at 9-11% per annum, Bloomberg reported citing people familiar with the matter.

It aims to raise funds for a Mumbai office project located near Bandra business district, as per the report.

However, there is no official statement on the matter as the talks are reportedly still underway and the details of deal has not been finalised as of yet.

Till the time of writing this report, JSW Realty and Tata capital did not respond to Outlook Business's query for clarification on the matter.

Currently, JSW Realty is also undertaking redevelopment projects of the Malabar Court located in South Mumbai, and the restoration and development of Taj Villa located in Bandra.

The Malabar project's redevelopment is likely to generate over ₹2,000 crore. It is located near the Malabar Hill Club, and is nearly an acre in terms of area.

According to the company, the redeveloped Malabar Court is likely to have a collection of residences, including single floor homes, duplexes and a signature penthouse. It will also have wellness and lifestyle amenities for its residents.

The redevelopment of the Taj Villa will see a new building alongside it that would facilitate "modern living".

"The restored bungalow and new tower will together tell a layered story one of a city learning to grow while holding on to what makes it timeless," said the company in a statement.