Real estate developer Amrapali Group has given partial exits to JP Morgan Real Estate and ICICI Prudential India Opportunity Portfolio Series 1 from two of its projects in Noida. JP Morgan Real Estate fund, which had invested . 85 crore in Amrapali Zodiac in ` 2010, has got a return of `. 135 crore so far and will get another `. 60 crore by end of this financial year, said two people aware of the development. ICICI Prudential India Opportunity Portfolio Series 1, which had invested `. 75 crore in Amrapali Sapphire in 2011, “has so far got ` . 95 crore from Amrapali and will get a full exit in the next few months,“ one of them said.
Shiv Priya, ED at the Noida-based builder, confirmed it has managed to give partial exit to the two funds and repay bank funding of ` . 350 crore taken for these projects despite a slow market. “Sales are slow at the moment and so we are focusing on execution at this point of time,“ he said.
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