$150 million Pragnya Fund 2 to focus on South realty and hospitality projects

21 Jan 2008, Source: INR NEWS

Chennai, India, January 21, 2008 - Pragnya, a private equity fund, is to launch a $150 million fund "Pragnya Fund 2" focused on real estate and hospitality projects in South India.

According to Subba Rao Dukkipati of Pragnya, the fund has so far invested $40 million in India, including a 24.5% stake in the L&T South City township project on Chennai's Old Mahabalipuram Road/IT Corridor.