It is half past noon as the sun beats down on the promenade in the upmarket locale of Hiranandani Estate in Thane, a satellite city abutting Mumbai district. Working out of a 400-sq ft office in one of the bylanes nearby is 50-year-old Mahesh Ahuja, who sorely misses the intermittent buzzing of his phone between sporadic visits from customers, all of whom are looking for a reasonably-priced dwelling in a locality that has fast emerged as one of the most sought-after residential hotspots.
Will Piramal Realty prove to be lucky for Warburg Pincus and Goldman Sachs?
The PE investors' bet is a mix of proprietary insights and ambitious assumptions
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