---

August 25, 2015

Goldman Sachs invests in Piramal Realty

DEAL BRIEF

Group companies of Goldman Sachs Group, Inc. (“Goldman Sachs”), have agreed to invest USD 150 million for a minority stake in PRL Developers Private Limited (“Piramal Realty”), the real estate arm of the Piramal group.

Piramal Realty is involved in developing high end residential and commercial properties in and around Mumbai. The Piramal group is one of India’s leading conglomerates with interests in pharmaceuticals, financial services, information management, glass packaging and real estate. You can read more about Piramal Realty at http://piramalrealty.com/

The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

OUR ROLE

We, at Nishith Desai Associates, acted as legal and tax counsel to Goldman Sachs for this investment.