Renowned realty group Prestige Estates Projects Limited has stepped up efforts to raise funds to support its projects. It is holding negotiations with Goldman Sachs on a wide-range of issues, including purchase of land, to fund its realty projects. As per the sources, the process to ink a pact in this regard has almost reached its final phases. At the same time, the Prestige group is also holding negotiations with other firms capable of lending it funds.
Prestige Estates CMD Irfan Razack made it clear that negotiations to raise funds concluded. He said that the size of the initial corpus fund would be Rs 2500 crore. He said that the pact to be signed has almost reached the final stages. He did not mention the name of the company with which the Prestige Realty is going to ink pact. When contacted, Goldman Sachs refused to comment on the issue.
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