- House of Abhinandan Lodha repaid Rs 1,100 crore to HDFC Capital ahead of schedule
- The repayment ends HDFC Capital's investment in multiple joint venture real estate projects
- HDFC Capital had committed Rs 1,500 crore for 11 projects with HoABL since 2023
The House of Abhinandan Lodha has repaid Rs 1,100 crore to HDFC Capital ahead of schedule, enabling the private equity firm to exit its investment in multiple real estate projects amid robust demand for plotted developments.
HoABL announced on Sunday that it had returned Rs 1,100 crore in principal to HDFC Capital Advisors Ltd ahead of the agreed repayment timeline, concluding the investment firm's participation in several projects under their joint venture platform.
HoABL and HDFC Capital joined hands in 2023 to finance land and low-rise residential projects in major cities, Tier II centres and developing real estate markets across the country.
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As part of the partnership, HDFC Capital had earmarked nearly Rs 1,500 crore for 11 projects. Of this commitment, HoABL has repaid approximately Rs 1,100 crore to the investment firm. The repayment comes amid the company's expansion in the plotted development segment, which has emerged as its primary business focus.
Vipul Roongta, chief executive officer of HDFC Capital, said HoABL had carved out a distinct position in the real estate market through its focus on plotted developments, low-rise housing and affordable and mid-income residential projects. He said HDFC Capital had been an early investor in the company and looked forward to maintaining its association with the real estate developer.
Abhinandan Lodha, chairperson of HoABL, described the repayment as an important milestone, saying the transaction reflected the company's focus on generating value for investment partners. He added that the company would continue identifying high-potential real estate opportunities and working towards sustainable returns for investors.
Founded in 2020, HoABL primarily focuses on developing residential land parcels and housing plots. The company said it has sold more than 13 million square feet of land and has around 25 million square feet under active development across five states, including Maharashtra, Goa and Uttar Pradesh.
HDFC Capital, a subsidiary of HDFC Bank, is the real estate private equity investment arm of the HDFC Group. It primarily finances the development of affordable and mid-income housing projects, with an emphasis on sustainable urban development.
(With PTI inputs)
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