The Economic Times

Xander sells Bengaluru office asset to Embassy REIT for Rs 852 crore, clocks 4X return

Xander had acquired the Pinehurst asset in 2018 for Rs 340 crore as part of its India office investment strategy. The sale at Rs 852 crore implies a gross multiple of over four times on invested equity over an eight-year holding period, according to primary research and market data.