KUMAR SINEW DEVELOPERS PRIVATE LTD
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
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
- http://kumarbuilders.com
- Region
- Asia
- Country
- India
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 12/27/2018
- End date
- 11/29/2022
- Total FMO financing
- INR 550.00 MLN
- Funding
- 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) - B+