Century Real Estate raises Rs. 1,850 crore for project expansion

Key Highlights

• Century Real Estate secures Rs. 1,850 crore funding from Ares Asia (Rs. 1,600 crore) and SC Lowy (Rs. 250 crore) to fuel housing and commercial project expansion in Bengaluru.
• Funds will support both ongoing and upcoming developments, enhancing the company’s growth strategy amid rising real estate demand.
• Century Real Estate, founded in 1973, has developed 20 million sq ft and owns over 3,000 acres, making it one of the region's top real estate firms.

Century Real Estate has borrowed Rs. 1,850 crore to use for growing its business and benefiting from greatly increased rates of property purchase.

It will apply the additional fund to both its current and future housing and commercial projects. Century Real Estate (based in Bengaluru) disclosed on Thursday that it has obtained Rs. 1,850 crore in debt through Ares Asia and SC Lowy, acting as main lenders. The money from the fund will support the company’s local expansion plan and back new as well as existing initiatives in Bengaluru. The funds for the round were led by Ares Asia, who invested Rs. 1,600 crore in portions and SC Lowy who added Rs. 250 crore to support development in housing and top office buildings.

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Ravindra Pai, Managing Director, Century Real Estate, said, "Securing Rs 1,850 crore in funding is a testament to the trust our financial partners place in Century Real Estate’s vision and execution."

The strong interest from buyers in Bengaluru means the company can extend its development thanks to added funds, according to Pai. Century Real Estate began with P Dayananda Pai and P Satish Pai at its helm in 1973 and it now stands among the top real estate companies in the region. The company owns more than 3,000 acres and has developed approximately 20 million square feet of space, holding premium hotels, business buildings, residences, schools and integrated townships.