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42m ago

HoABL Repays ₹1,100 Crore to HDFC Capital to Secure Early Exit

Faster-than-expected project deliveries generated the cash to fund the prepayment, signaling continued partnership between the developer and the private equity investor.

The House of Abhinandan Lodha (HoABL), on November 15 that HDFC Capital Advisors Limited, one of its key investors, has been provided an early exit in its investment, realising approximately ₹1,100 crore. (Picture for representational purposes only)
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Overview

  • HoABL announced on Sunday that it returned about ₹1,100 crore to HDFC Capital to provide an early exit across five projects.
  • The company said earlier-than-scheduled project deliveries and strong plot sales produced the cash flows that enabled the principal prepayment before the due date.
  • The payment comes from a 2023 joint platform in which HDFC Capital committed roughly ₹1,500 crore across 11 projects in Uttar Pradesh, Maharashtra, Himachal Pradesh, Goa and Punjab.
  • TrustCap acted as sole financial advisor to the transactions and executives from both firms praised the execution-led value creation while expressing intent to continue the partnership.
  • HoABL reported it has sold about 13 million sq. ft. and has 25 million sq. ft. under development, a pipeline that could support further liquidity events and give investors confidence in execution-focused real estate platforms.