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Lodha to get funding

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Realty developer Lodha Group is in talks with Piramal Fund Management to raise around `1,500cr over the next few months. The funds raised are likely to be used in parts for refinancing of some of the existing debt, while rest will go towards construction finance. In May, Piramal Fund Management (PFM), one of the largest real estate focused fund and funding platforms and part of Piramal Enterprises, invested `425cr in one of the Lodha Group’s central Mumbai projects. PFM had committed the money to a project being developed by a 100% subsidiary of Lodha Developers.


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