The House of Abhinandan Lodha Repays Rs 110 Billion Loan to HDFC Capital

The developer company The House of Abhinandan Lodha (HoABL) has made an early repayment of a loan amounting to Rs 110 billion to the private investment firm HDFC Capital. These funds were raised by HoABL for the execution of housing projects, which primarily include land parcels.

According to a statement from HoABL released on Sunday, the company provided an exit for HDFC Capital Advisors Ltd across several projects, making a payment of Rs 110 billion as principal debt ahead of the stipulated deadline.

In 2023, HoABL and HDFC Capital entered into a partnership to create a joint platform dedicated to investing in land parcel and low-rise construction projects in major cities, second-tier cities, and emerging markets across India. HDFC Capital initially allocated approximately Rs 150 billion to this platform under 11 projects.

To date, HoABL has returned approximately Rs 110 billion to HDFC Capital within this platform.

Comments from Deal Participants

Vipul Rungta, CEO of HDFC Capital, noted that HoABL is a next-generation real estate company that has successfully carved out a unique niche, particularly through its land parcel projects, low-rise construction, and focus on affordable and mid-income housing in key Indian real estate markets. He also emphasized that HDFC Capital was an early investor in HoABL and looks forward to continued collaboration with the development firm.

Abhinandan Lodha, Chairman of HoABL, described this transaction as a significant milestone for the company. He stated that it demonstrates the company's commitment to creating substantial value for its investment partners. Furthermore, this transaction underscores HoABL's approach to identifying high-potential real estate opportunities and actively building value throughout the entire investment cycle.

Lodha added that the company continues to focus on building a strong portfolio and ensuring sustainable returns for its investors.

About the Organizations

HDFC Capital, a subsidiary of HDFC Bank Limited, represents the private equity division of the HDFC group in real estate. The company focuses on sustainably financing the construction of affordable and mid-income housing.

HoABL, established in 2020, specializes primarily in residential plot projects. In just over five years of operation, the company has sold over 13 million square feet and has 25 million square feet under active construction across five states, including Maharashtra, Goa, and Uttar Pradesh.

Similar stories

www.aajtak.inNovember 14, 13:28

Second Most Expensive House in India Valued at 600 Billion Rupees: Information on the 30-Story Building and Its Owner

The real estate investment market in India is experiencing a boom, and there is excitement among people regarding the purchase of luxury residential properties. Although many know about the most expensive house in the country, there is also a second significant property that is attracting attention.

This property is not just a house, but a true palace, considered the second most expensive and a model of luxury. Its value is estimated at 600 billion rupees, but it should be noted that this figure dates back several years, and the current market value is estimated to significantly exceed this amount.

This building, known as JK House, is located on Altamount Road in Mumbai, which is considered one of the most prestigious areas in the city. JK House is a high-rise private structure 145 meters tall and consisting of 30 floors, each designed with exceptional luxury.

JK House belongs to Gautam Singhania, chairman of the Raymond group, which is involved in textile and fashion manufacturing. This building is located on Altamount Road in Mumbai, near Mukesh Ambani's residence, the Antilia, chairman of Reliance.

The building offers a full range of amenities that give it a royal appearance. The upper levels feature gardens and flower beds on every floor. Additionally, Raymond House has two swimming pools, a helipad, a spa center, a gym, and various entertainment facilities. The first five floors of this 30-story building are exclusively allocated for parking.

Gautam Singhania, head of Raymond, is known for his love of cars. According to reports, his collection includes models such as Lamborghini Gallardo LP570 Superleggera, Lotus Elise convertible, Nissan Skyline GTR, Ferrari 458 Italia, and Audi Q7.

business-standard.comNovember 13, 08:29

Jindal Power secures $470 million loan for power generation project in Botswana

Jindal Power, a subsidiary of the Jindal Group, has secured an offshore loan worth approximately $470 million. These funds are designated to finance an energy project in Botswana, strengthening the position of one of India's largest conglomerates in the African market.

According to information obtained from informed sources, the nine-year loan was provided by a consortium of three Indian lenders: Axis Bank Ltd., ICICI Bank Ltd., and the Export-Import Bank of India. It is anticipated that this loan will be syndicated with the participation of other global institutional creditors.

This financing reflects the growing international ambitions of Indian energy companies, which are seeking opportunities in markets where rising electricity demand stimulates investment in generation and transmission infrastructure. Previously, Jindal Power raised about $500 million in a prior funding round intended for its overseas expansion.

In Botswana, Jindal Power has constructed a 700-megawatt coal-fired power plant, which is scheduled to commence operations next month. The mining industry in this Southern African country is a major electricity consumer, and Botswana aims to utilize its coal reserves, exceeding 200 billion tons, to develop a petrochemical industry, thereby reducing dependence on imports from South Africa and Namibia. It should be noted that Botswana owns a 15% stake in the world's largest diamond company, De Beers.

Under the terms of the loan, the interest rate is approximately 300–325 basis points above the Secured Overnight Financing Rate. The cost of borrowing is expected to decrease after the project becomes operational. Representatives from Jindal Power, Axis Bank, ICICI Bank, and the Export-Import Bank of India did not respond to requests for comment.

According to Bloomberg, Indian borrowers have attracted $24.2 billion through foreign currency loans this year, which is 8% less than last year. This decline is attributed to increased hedging costs, which deterred some companies from accessing foreign debt markets. Nevertheless, Jindal Power benefits from natural hedging, as revenues from the African project are expected to be denominated or pegged to a foreign currency, minimizing exposure to exchange rate fluctuations.