And Dev realestate Development, listed on Londonâ??s Alternative Investment Market in January. [...] This unit of Indiaâ??s Kotak Mahindra Bank hopes to attract pension funds and other institutional investors, mostly from Europe, with an internal rate of return target of around 25%. â??They need to juice up their returns,â? Krishna said of the willingness of investors to dabble in relatively high risk Indian realestate. Kotakâ??s first fund joined private equity group Warburg Pincus by taking a $10-million stake Lemontree Hotels, a new firm that is building business hotels across India.
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