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Xander Group looks to scale up funding in Indian realty this year
Live Mint  |  January 31, 2020

Madhurima Nandy Bengaluru

Singapore-based The Xander Group Inc. has invested around $500 million in India’s office, retail and warehousing projects in 2019, a top company executive said, adding that the firm plans to scale up its investments further this year.


Xander has invested around $200 million in shopping malls and $125 million in commercial offices, besides announcing a $250 million industrial real estate venture. It has also offered credit from Xander Finance, its non-banking financial company (NBFC) arm.


So far, Xander has invested about $3.7 billion in India’s real estate sector. “We plan to expand all asset classes this year and, given the pipeline of acquisitions and investments we have, the funding momentum will continue. All our platforms are in growth mode and we are looking for opportunities. We believe good portfolios are built in bad times," Rohan Sikri, senior partner, Xander Investment Management, the private equity real estate arm of Xander Group, said in a telephonic interview.


The ongoing NBFC crisis has re-rated credit risk in India, despite the stress, he added. “We would grow our NBFC book too and we are sitting on cash, but we are looking at good risk-adjusted opportunities given the state of the market. There’s urgency but we are not in a hurry to deploy credit."


Xander not only does 100% acquisitions for its own platform, but also has operational capabilities.


The prolonged slowdown in the residential sector may have dried up investor interest, but large global investors have continued to bet ion commercial office, retail and industrial real estate. “We are looking at two more acquisitions in office space. We will also deploy the $250 million in the warehousing platform in 12-18 months. Our co-working business is also doing well and complements our office portfolio and we plan to grow that too. We have an income-oriented strategy which is a big mitigator of risk," Sikri said.