Trikona Capital Ltd., the leading fund management firm for institutional investment in Indian real estate and infrastructure, had announced that Dr. PS Rana, former chairman of India's Housing & Urban Development Corp. (HUDCO) and 35-year industry veteran, has joined to head the development of real estate and infrastructure projects throughout the country.
Dr. Rana brings experience in planning, financing and developing real estate and infrastructure projects in India, having spent 16 years at HUDCO where he retired as chairman. Established in 1970 by the Indian government, HUDCO provides long-term financing and planning assistance for urban development, infrastructure and home construction projects, usually for India's low-income population. Approximately one-in-16 homes in India have received some type of financial backing from HUDCO, which has sanctioned 16,000 projects and is credited for a role in creating the country's National Housing Policy.
HUDCO has been involved in the Jawaharlal Nehru National Urban Renewal Mission, a five-year program, $20 billion program launched in 2005 by the Indian government to improve India's cities, as well as integrated-township development. HUDCO has also financed projects like the Delhi-Gurgaon Expressway and Cochin Airport to improve India's transportation, water supply, drainage, and power supply. During his tenure at HUDCO, Dr. Rana initiated policies to support mass and rental housing, while promoting green space, public recreation areas and sensible development.
"Success in India requires a dedication to manage and execute projects end-to-end," Aashish Kalra, Co-Founder and Managing Director of Trikona Capital said. "Trikona has demonstrated its ability to drive projects through investment, development and ultimately to realize returns of greater than 100% for our investments. Dr. Rana has proven a deep understanding of the issues that India faces as it continues to urbanize and develop economically, and he will be a valued member of our team as we scale our investment platforms in India."
"I have been impressed with Trikona's unique ability to create an institutional platform that is now at the forefront of assisting with India's continued development," said Rana. "As India continues to evolve and grow its middle class, the country will need new integrated townships, critical infrastructure improvements and sensible urban redevelopment. Trikona has built a dynamic model and strong team and I look forward to joining them in their efforts."
About Dr. Rana
Dr. Rana brings 35 years of real estate and infrastructure finance and development experience, including a 16-year career at the Housing & Urban Development Corp. Ltd., where he retired as chairman. Dr. Rana has also held senior positions with the Delhi Transportation Corp., and Town & Country Planning Organization, an advisory body. Dr. Rana holds a PhD in transport engineering & management from University of Newcastle Upon Tyne, U.K; a post-graduate degree in town and country planning from the School of Planning and Architecture, New Delhi; and a degree in civil engineering from the Indian Institute of Technology (IIT), Delhi. He belongs to numerous professional associations focused on development and infrastructure, public health and safety, and strategic urban planning.
About Trikona
Trikona Capital is the leading fund management firm for institutional investment in Indian real estate and infrastructure assets. Trikona Capital has developed a unique and scalable platform that combines an experienced team in India, strong U.S.-based governance and investor reporting standards, and strategic partnerships with leading companies to invest in India's high growth industry sectors. Trikona's diversified portfolio of investments span the residential, commercial, retail, infrastructure, industrial, hospitality, and urban rejuvenation sectors, creating a complete ecosystem of projects designed to capitalize on India's surging economic and social development. With offices in New York, London, Delhi and Mumbai, Trikona also manages Trikona Trinity Capital PLC (LSE: TRC), which has been fully invested into Indian real estate and infrastructure projects. For more information, go to www.trikonacapital.com.
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