Thakral to enter India’s real estate sector; invests $6.37 mil in mixed-use development

Thakral Corporation says its wholly-owned subsidiary, Paramount Investments, is set to invest approximately $6.37 million in TIL Investments Private Limited (TIL), according to a Dec 16 release. Under the investment, Thakral will acquire a 13.64% stake in TIL, which marks the group’s maiden foray into India’s healthcare and real estate sector through a property development project in Gurugram. The group’s financial advisor, Platinum Securities Company Limited, Singapore, will also invest approximately $2.2 million for a 4.72% post-issuance stake. Read also: Thakral’s investment medley: Beauty, tech, affordable housing and retirement resorts Advertisement Advertisement The development is expected to span across an area of approximately 21 acres of land with a development potential in excess of 2 million sq ft. Additionally, TIL will be partnering with a developer with expertise in the Indian real estate sector to maximise value from the mixed-use development project and a reputable operator for the hospital project, says Thakral. The development will also comprise residential and commercial properties for sale or lease. The group adds that Gurugram “stands out as a strategic location for a healthcare facility”, with patients from Delhi and other parts of India. The city also treats many international visitors, who currently represent about 13% of its patient demographic. Inderbethal Singh Thakral, CEO and executive director of Thakral Corporation, says: “Our investment in this project aligns with our strategy of identifying attractive real estate ventures and tapping into sectors with strong growth prospects. The investment also diversifies the group’s global footprint while proactively entering one of the fastest-growing sectors in a fast growing and promising economy. This will allow the group to mitigate market volatility in any sector and enhance overall stability and resilience in the long term.”