Namo Realtech Borrows Rs 350 Crore From BGO-Aditya Birla Sun Life AMC Platform
The borrowing is for a residential development in Gurgaon.
Namo Realtech on Monday said it has borrowed Rs 350 crore from a real estate lending platform of BGO-Aditya Birla Sun Life AMC.
The borrowing is for a residential development in Gurgaon, as per an official statement. The structured credit investment vehicle launched in June 2022 has committed USD 100 million across 10 deals till now, and is aiming to increase deployments to USD 1 billion by 2028 under the strategy, it said.
'We remain dedicated to providing strategic real estate credit solutions that foster growth and innovation in India's property sector," the AMC's managing director and chief executive A Balasubramanian said. Bharat Khanna, the head of India for BGO, a global real estate investment management advisor, said the real estate market in the country is thriving and the residential market shows potential.
Namo's managing director Mohit Jain said the investment by the platform will allow the company to accelerate its future plans.
