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Real estate firm The House of Abhinandan Lodha (HoABL) has prepaid a Rs 1,100 crore loan to private equity firm HDFC Capital, which it had raised to develop housing projects, comprising mainly plots. In a statement on Sunday, HoABL said it has given an exit to HDFC Capital Advisors Ltd across many projects by making a payment of Rs 1,100 crore as the principal amount before the due date. In 2023, HoABL partnered with HDFC Capital to set up a joint platform to invest in plotted developments and low-rise projects located in metros, Tier II cities and emerging markets in India. HDFC Capital had committed around Rs 1,500 crore to the platform across 11 projects. To date, HoABL has returned around Rs 1,100 crore to HDFC Capital under the platform. Vipul Roongta, CEO of HDFC Capital, said, "HoABL is a new-age real estate company, which has successfully created a differentiated real estate niche, particularly through plotted developments, low-rise projects and focus on affordable and ...
Realty firm KW Group has acquired 1.5 acres of land in Ghaziabad, Uttar Pradesh, for Rs 134 crore through an auction to develop a housing project. In a statement on Thursday, the company said it has acquired a 1.5-acre freehold land parcel in Indirapuram, Ghaziabad, for Rs 133.98 crore (excluding stamp duty and registration charges). The parcel was acquired through an auction conducted by the local development authority. The company plans to develop an ultra-luxury residential project on the site, with a development potential of around 5 lakh sq ft. The project is backed by a Rs 150 crore commitment from ASK Property Fund, the real estate arm of Blackstone-backed ASK Asset & Wealth Management Group. Pankaj Kumar Jain, Director of KW Group, pointed out that there are not many luxury housing projects in Ghaziabad while the demand for such products is quite high. "ASK Property Fund's participation reflects confidence in both the location and our 27-year execution record. We will ...
Realty firm Kalpataru Ltd will achieve its Rs 6,500 crore pre-sales target this fiscal, a 23 per cent rise from the previous year, as housing demand remains strong for established players, a senior company official said. In an interview with PTI, Mumbai-based Kalpataru Ltd CFO Chandrashekhar Joglekar said the company's sales bookings or pre-sales stood flat at nearly Rs 2,600 crore in the first half of this fiscal. He noted that housing demand remains "intact" despite concerns about a possible slowdown due to global economic uncertainties. "We have given guidance for pre-sales at Rs 6,500 crore. We have already achieved 40 per cent in the first half of this fiscal. We will be achieving 60 per cent in the second half of this fiscal," Joglekar said. During the first half of this fiscal, the company's sales bookings stood at Rs 2,587 crore against Rs 2,577 crore in the year-ago period. Joglekar said the housing sales are generally high in the second half because of festive demand and
Realty firm Kolte-Patil Developers Ltd has posted a consolidated net profit of Rs 5.70 crore for the quarter ended September. Blackstone-backed company, which is based in Pune, had posted a net loss of Rs 11.14 crore in the year-ago period. Total income more than doubled to Rs 351.51 crore in the second quarter of this fiscal from Rs 161.75 crore in the corresponding period of the preceding year, according to a regulatory filing. During the April-September period of 2026-27, the net profit stood at Rs 152.36 crore as against a net loss of Rs 28.02 crore in the year-ago period. Total income jumped to Rs 1,288.13 crore in the first half of this fiscal from Rs 258.56 crore in the corresponding period of the preceding year. Hrishikesh Parandekar, the company's Chief Executive Officer, said, "The first six months of this fiscal has been a landmark period, marked by record business performance and significant portfolio expansion. We achieved record quarterly and half-yearly pre-sales, .