Ashwin Sheth Group Secures $65M Investment from PAG for Mumbai Project.

PAG, a leading Asia-focused alternative investment firm, has committed $65 million (approximately ₹540 crore) to a luxury housing project by the Ashwin Sheth Group in Mumbai. The significant investment will fuel the development of "One Marina," a prestigious residential tower located on Marine Drive, Marine Lines in South Mumbai, with an estimated gross development value of ₹2,300 crore.

The Ashwin Sheth Group recently acquired a 50 percent stake in Project One Marina, a luxury residential development previously held by Vallabh Sheth and Jitendra Sheth alongside landowner YM Infra. This strategic partnership with PAG is set to unlock the full potential of the project.

PAG's funding not only facilitated this acquisition but will also support the project through its crucial construction phase. A portion of the funds raised from PAG was specifically used to facilitate the exit of JC Flower ARC, whose loan from Yes Bank was settled by the Ashwin Sheth Group to clear the way for this new partnership.

This investment from Singapore-headquartered PAG signals strong confidence in Mumbai's luxury real estate market and the Ashwin Sheth Group's expertise in developing high-end properties.