Bhumika Group debt funding for a mixed-use project in Faridabad

Economic Times
Economic Times
1m ago
North India-based real estate developer Bhumika Group raised Rs 170 crore in debt from a real estate credit platform jointly managed by BGO and Aditya Birla Sun Life AMC to fund a mixed-use project on Mathura Road in Faridabad.
Bhumika Group debt funding for a mixed-use project in Faridabad
A What happened
Bhumika Group raised Rs 170 crore in debt from a real estate credit platform jointly managed by BGO and Aditya Birla Sun Life AMC. The funding is for a mixed-use project on Mathura Road in Faridabad with revenue potential of over Rs 1,500 crore. Cushman & Wakefield acted as transaction advisor, and the project achieved financial closure with the funding. The structured credit investment vehicle launched in June 2022 has committed $130 million across 13 projects in six cities and aims to reach $1 billion of deployed capital by 2028.
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Key insights

  • 1

    Platform targets larger capital deployment: The Aditya Birla Sun Life AMC–BGO structured credit investment vehicle aims to achieve $1 billion of deployed capital under its strategy by 2028.

  • 2

    Faridabad infrastructure cited as a demand driver: Upcoming infrastructure initiatives cited include the FNG (Faridabad–Noida–Gurugram) Expressway and enhanced connectivity to the Noida International Airport in Jewar.

Takeaways

Bhumika Group secured Rs 170 crore in debt financing to close funding for a Faridabad mixed-use project, while the BGO–Aditya Birla Sun Life AMC platform continues expanding its real estate credit investments in India.

Topics

Business & Markets Real Estate

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