The wave city is a new residential project, started earlier this year by the Wave Groups. It comprises of 75,000 dwelling segments in a space of 4,500 acres. Around 4000 units of the first phase are close to completion. These affordable residential units are launching for a bracket price of Rs.14 lakhs.
Landmark, a leading real estate investor company of the Dalmia group, made its investment in top notch projects that are ventured by leading real estate firms like Forum, Pioneer, Prasvanth, ATS, Ansal, kumar builders etc. In the wave city project, the Landmark group had invested Rs.111.26 crore and earned 3.15 x on its exit.
This is not the first time that the Landmark group has exited from an ongoing real estate project. Earlier this year, landmark made its exit from 2 other projects but still managed to make a profit out of both. With the ATS group investment, it gained a multiplier of 2.3 x and an internal rare return (IRR) of around 24.5% on its exit. The landmark had also exited from the Shipra’s residential project with a profit of Rs. 50.53 crores which is 2.10 times the original investment.
In the present day scenario of the real estate market, most of the equity investors are struggling to stay in the field, but landmark has found its way out without encountering any loss by applying a profitable exit strategy.