IL&FS Milestone Fund invests in The Cerebrum tower

Pune: IL&FS Milestone Fund I, a private equity fund jointly promoted by IL&FS and Milestone Capital Advisors, has invested Rs 139 crore in one of three towers at The Cerebrum, an IT park developed by Pune-based Kumar Builders.

This 3-lakh sq ft building, a part of the 1 million sq ft project, is complete and ready for handover to the institutional investor.

Constructed as an eco-friendly project, among The Cerebrum’s green features are rain water harvesting systems, bio sanitiser for solid waste management, and landscaping to include a medicinal plant zone and a butterfly zone.

The centralised AC system is coupled with a thermal storage system which stores water chilled at night when the electricity tariff is low, for use during the day.

An estimated Rs 1.28 crore will be saved on power compared to air cool chillers.

Among the lessees of the IT park are Mastek, S1, EBZ Online and Verve Communications, Reliance Communications, Vodafone Cellular, Finserv and Redknee India Technologies.