It had raised capital from Kotak Realty Fund back in 2007-08.
This is the first known investment by the VC firm this year.
New Silk Route part-exited in the issue.
Tuscan had invested around $5 million in the firm during 2007-08.
The investment is for a mid-income housing project.
Really, appreciable step by RBI.
Startups should be primarily focussed on generating cash. Valuation will follow.
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