DS Kulkarni selling project stakes

Reuters has a news item on DS Kulkarni selling stakes in a couple of projects

1. 50% stake in a premium Bangalore residential project to ICICI Prudential PMS Real Estate Portfolio for Rs. 350 million. Previous reports stated that ICICI Prudential PMS Real Estate fund had raised about Rs. 900-Rs.1000 crores.
   
2. 50% stake in a unit setting up an SEZ in Pune to GTC Cyprus for $90 million. GTC Cyprus is part of the Netherlands based Kardan group.

We expect the trend of institutional investors taking large stakes at an SPV level to gather further momentum over the coming months. Developers are negotiating from a position of weakness and it is only fair for investors to demand their pound of flesh