NEW DELHI, Nov 27: Tata Realty and Infrastructure Ltd has taken a Rs 1,280 crore loan from DBS Bank India for a sustainable commercial project in Gurugram, a statement said.
DBS Bank India acted as the sole advisor and green loan coordinator for this transaction. A green loan financing intends to fund or refinance projects that provide environmental benefits.
The loan facility has been availed by Tata Realty’s special purpose vehicle (SPV), which has developed commercial project ‘Intellion Park’ in Gurugram. This Grade A office campus has 2.1 million sq ft office spaces.
The funds are being deployed towards certified green assets that meet globally recognised sustainability benchmarks.
Santanu Mitra, Head of Large Corporate Banking, DBS Bank India, said, “Real estate and infrastructure is a key focus for DBS Bank India, and we have supported several innovative, sustainable projects being developed across the country.”
Sanjay Dutt, CEO of Tata Realty & Infrastructure Ltd said the loan facility reflects the Tata Group’s legacy of social and environmental responsibility and comes at a time when India’s commercial real-estate sector and GCC ecosystem are rapidly expanding.
Tata Realty and Infrastructure Ltd, a wholly-owned subsidiary of Tata Sons, has 19.6 million square feet of commercial portfolio, branded as Intellion.
The portfolio comprises 9.4 million sq ft of operational Grade A office spaces and future potential/ under development 10.2 million sq ft.
Tata Realty’s residential arm Tata Housing has more than 34 projects across major cities and the Maldives. (PTI)
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