 "real estate")
PAG — an alternative investment firm focused on Asia-Pacific (APAC) — has taken a liking to Indian real estate, entering into multiple debt deals with property developers in the country. This comes at a time when most domestic non-banking companies (NBFCs) are going slow on lending to property developers.
PAG loaned about Rs 3,000 crore last year, said a senior real estate executive, adding it had become one of the single largest lenders to developers in 2022.
PAG granted about Rs 8,000 crore in recent years prior to 2022 when most lenders, such as Edelweiss, Indiabulls and Piramal, were dawdling