KUMAR SINEW DEVELOPERS PRIVATE LTDStatus: Completed investment
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Who is our customer
Kumar Sinew Developers Pvt. Ltd. is a real estate development company with a focus on residential, retail and commercial development mainly in Pune and Mumbai.
What is our funding objective?
FMO financed a project which is set out to rehabilitate 4.500 of Pune’s slum hutments by building 11 rehabilitation buildings.
Why do we fund this investment?
With the new buildings the living conditions of approx. 25,000 slum dwellers will significantly improve as they gain a legal title on their homes, secure tenor, and basic amenities (running water, sewage, sanitary). The new funding that is provided now is too recommence the construction of the rehabilitation buildings after this stranded mainly due to poor real estate market conditions.
What is the Environmental and Social categorization rationale?
B+, the following IFC Performance Standards are applicable: 1-5 and 8. IFC PS 6 on biodiversity is not applicable as there are no ecological sensitive receptors or HCVs in the proximity of the project area. IFC PS 7 on indigenous People is also not applicable as no indigenous people groups were identified on the project site.
- Website customer/investment
- Infrastructure, Manufacturing and Services
- Effective date
- End date
- Total FMO financing
- INR 550.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)