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Mumbai's Sunteck seeking funds to buy distressed property

Luxury condo developer sees opportunity to buy firms struggling with debt

Published Tue, Aug 4, 2015 · 09:50 PM
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A DEVELOPER of luxury condominiums in one of Mumbai's popular business districts is seeking private equity funds to buy distressed assets from rivals reeling under record debt.

Sunteck Realty Ltd, whose clients include Bollywood stars such as Aishwarya Rai and Sonam Kapoor, is in talks with investors as it sees acquisition opportunities similar to those that followed the 2008 collapse of Lehman Brothers Holdings, chairman Kamal Khetan said.

"Developers with huge debt…

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