TVS Emerald Secures Rs 425 Crore from IFC for Housing Expansion

TVS Emerald has raised Rs 425 crore from IFC to fund new housing projects in Chennai and Bengaluru. The company will allocate Rs 136 crore to the Chennai project and Rs 103 crore to the Bengaluru project, with a remaining budget for future developments, aiming for a Rs 4,400 crore revenue potential.

Realty firm TVS Emerald announced securing Rs 425 crore in equity funding from the International Finance Corporation (IFC) to boost its housing portfolio.

The investment will primarily support two significant residential projects set to launch next fiscal in Chennai and Bengaluru, with Rs 136 crore dedicated to Chennai and Rs 103 crore to Bengaluru.

These new projects are expected to generate combined revenues of Rs 4,400 crore. TVS Emerald continues to expand its footprint in residential development with over 9 million sq ft underway and 6 million sq ft already delivered.

(With inputs from agencies.)