Hero Realty has secured Rs 12 billion (bn) in debt from IndusInd Bank to accelerate its residential projects and market expansion, the company said. The transaction was facilitated by Rezonance Consultants and will provide capital for developments across key northern markets.

The borrowing follows a partnership with HDFC Capital Advisors that created a Rs 10 bn platform for residential projects in tier-one and tier-two cities. The funds will be used for ongoing and upcoming housing projects to bolster liquidity and delivery schedules. Rohit Kishore, chief executive officer of Hero Realty, said institutional backing reflected confidence in the company’s strategy and execution.

Hero Realty is developing more than six million (mn) square feet across the National Capital Region, Punjab, Uttarakhand and Uttar Pradesh. The firm has expanded in premium residential and plotted development segments and recently launched The Palatial by Hero Homes in Sector 104, Gurugram on the Dwarka Expressway, spanning nearly 11 acres with more than 680 apartments and retail space.

Earlier this year the company acquired 18,215 square metres in Sector MU, Greater Noida, via an auction by the Greater Noida Industrial Development Authority for Rs 2.18 bn (Rs 218 crore). The purchase supports the firm’s greater focus on the National Capital Region and its inventory for near term deliveries.

The developer has partnered with Panasonic Electric Works India to integrate smart residential systems and indoor air purification technology at the Gurugram project, marking Panasonic’s first tie up with an Indian real estate developer. The company said the collaboration will enhance product differentiation and resident amenities. Hero Realty is combining institutional funding, land purchases and technology partnerships to strengthen its northern portfolio and execution pipeline.