DELHI: Delhi-based real estate investment firm Landmark Holdings has exited its investment in Wave Group’s 4,500 acre Hi Tech City project in Ghaziabad for approx Rs 350 crore making over 3x on its original investment.
The Gaurav Dalmia-promoted company had invested Rs 111.26 crore in Wave Group. The first phase of the project will comprise 20,000 dwelling units, of which 4,000 units are close to being delivered. The total project in its final configuration will have in excess of 75,000 dwelling units.
Ponty Chadha’s Wave Group ventured into affordable housing segment by launching Dream Homes at Wave City Ghaziabad, at sub Rs 14 lakh bracket.
Landmark has exited two more investments this year. Its investment in the ATS Group earned it a multiplier of 2.3 x on its investment. The other exit was from Shipra’s residential high-rise apartment development in Indirapuram, Ghaziabad, where Landmark has earned 2.10 times its original investment of Rs. 50.53 crores in the deal.
The company has other investment with prominent developers such as Ansals, Wave, Parsvnath, Forum, Pioneer, ATS, Kumar Builders. It has invested in 25 projects as equity or a quasi-equity investor.