As Nbfcs Turn Off Tap, Realty Funds See Deal Proposal Spurt But Remain Wary | Business Standard News
Mumbai, 24 OctoberAfter non-banking finance companies (NBFCs) tightened liquidity flow to property developers over the past month, private equity (PE) funds are seeing a spurt in proposals from developers for funding. "Developers need capital to sustain the current cycle. From that perspective, they are coming," said Vikas Chimakurthy, chief executive officer (CEO) at Kotak Realty Fund. Defaults at Infrastructure Leasing & Financial Services (IL&FS) has made it difficult for NBFCs to raise money, forcing them to avoid new lending and stop the disbursal of already sanctioned loans.