IVR Prime gets Kotak funding

Hyderabad: IVR Prime Urban Developers Ltd, the urban development arm of the Hyderabad-based infrastructure major IVRCL, has announced that Kotak Indian Realty Fund has committed to invest about Rs 250 crore. “The investment would be used for the company’s integrated development of realty projects,” the company informed the Bombay Stock Exchange on Friday. A few more realty funds have also shown interest in joining hands with the company in the development of some pr ojects, it said. The company claims to have a reserve of 2,850 acre in cities such as Chennai, Hyderabad, Pune, Bangalore, Visakhapatnam and NOIDA.