+
Bhumika Realty Raises Rs 1.7 Billion For Faridabad Project
Real Estate

Bhumika Realty Raises Rs 1.7 Billion For Faridabad Project

NCR-based Bhumika Realty has raised Rs 1.7 billion from a real estate credit platform backed by Aditya Birla Sun Life AMC and BGO to fund its upcoming mixed-use project in Faridabad.

The developer launched the project, The Icon, in December with a planned investment of Rs 7 billion and projected sales realisation of Rs 15 billion. Bhumika Realty said the fresh capital will be deployed towards construction and working capital requirements.

According to the company, the project achieved full financial closure within three weeks of launch, underscoring strong lender confidence. The transaction was facilitated by property consultant Cushman & Wakefield.

Uddhav Poddar, chairman and managing director of Bhumika Group, said Faridabad is entering a new phase of organised urban growth, supported by infrastructure upgrades and rising end-user demand. He added that the swift financial closure reflects the project’s fundamentals and the group’s disciplined capital deployment strategy.

A Balasubramanian, managing director and chief executive of Aditya Birla Sun Life AMC, said India’s real estate sector has seen unprecedented growth in recent years, marked by record capital deployment from both domestic and overseas investors.

Aditya Birla Sun Life AMC and BGO had announced their partnership in June 2022 to create a structured real estate credit investment platform offering strategic financing solutions. The platform has so far committed about $130 million across 13 projects in six cities, focusing on post-approval developments with established partners. With a strong pipeline under discussion, it is targeting total capital deployment of $1 billion under this strategy by 2028.

NCR-based Bhumika Realty has raised Rs 1.7 billion from a real estate credit platform backed by Aditya Birla Sun Life AMC and BGO to fund its upcoming mixed-use project in Faridabad. The developer launched the project, The Icon, in December with a planned investment of Rs 7 billion and projected sales realisation of Rs 15 billion. Bhumika Realty said the fresh capital will be deployed towards construction and working capital requirements. According to the company, the project achieved full financial closure within three weeks of launch, underscoring strong lender confidence. The transaction was facilitated by property consultant Cushman & Wakefield. Uddhav Poddar, chairman and managing director of Bhumika Group, said Faridabad is entering a new phase of organised urban growth, supported by infrastructure upgrades and rising end-user demand. He added that the swift financial closure reflects the project’s fundamentals and the group’s disciplined capital deployment strategy. A Balasubramanian, managing director and chief executive of Aditya Birla Sun Life AMC, said India’s real estate sector has seen unprecedented growth in recent years, marked by record capital deployment from both domestic and overseas investors. Aditya Birla Sun Life AMC and BGO had announced their partnership in June 2022 to create a structured real estate credit investment platform offering strategic financing solutions. The platform has so far committed about $130 million across 13 projects in six cities, focusing on post-approval developments with established partners. With a strong pipeline under discussion, it is targeting total capital deployment of $1 billion under this strategy by 2028.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code