Realty firm M3M Group has repaid about Rs 1,130 crore in loans from Indiabulls to develop a township project in Panipat, and it plans to clear the remaining balance of nearly Rs 170 crore in the coming few months.
In a statement on Monday, Gurugram-based M3M Group said it will clear the entire Rs 1,300 crore Indiabulls loan in the first quarter of the 2025-26 fiscal.
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The loan was availed by M3M India from Indiabulls for the purchase and development of a 337-acre township project in Panipat, Haryana.
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Robin Mangla, President of M3M India, said, "We have successfully repaid the amount of Rs 802 crore and are paying an additional Rs 331 crore on March 31 2025".
The residual loan amount of Rs 167 crore will be repaid in the first quarter of the 2025-26 fiscal.
"This repayment will make the Group debt-free," Mangla said.
M3M Group has delivered 36 projects in North India and is developing many more projects. It has a 3,000-acre land bank across Gurugram, Noida, and Panipat.
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