New Delhi, Nov 15 (PTI) 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 mid-income housing in key property markets across India".
He noted that HDFC Capital has been an early investor in HoABL and looks forward to continued association with the realty firm.
Abhinandan Lodha, Chairman of HoABL, termed it as a significant milestone for the company.
"This demonstrates our commitment to creating meaningful value for our investment partners. The transaction underscores HoABL's approach of identifying high-potential real estate opportunities and actively working towards value creation throughout the investment lifecycle," he said.
Lodha said the company remains focused on building a strong portfolio and delivering sustainable outcomes for its investors.
HDFC Capital, a subsidiary of HDFC Bank Limited, is the real estate private equity arm of the HDFC Group.
HDFC Capital is focused on financing the development of affordable and mid-income homes in a sustainable manner.
Founded in 2020, the HoABL focuses mainly on housing plot projects.
In just over five years of operations, the company has sold over 13 million sq ft and has 25 million sq ft under active development across five states, including Maharashtra, Goa and Uttar Pradesh.
