HomeKraft Repays Rs 12.5bn To HDFC Capital, Enabling Full Fund Exit

27 Nov 2025 CW Team

According to the developer, the repayment was made entirely from HCARE-2 portfolio project cash flows, without any third-party refinancing — a rare outcome in India’s residential real-estate sector. HCARE-2’s portfolio with ATS HomeKraft comprised more than 7,500 units with a total sales value of Rs 80 billion.

HomeKraft said it delivered multiple projects ahead of schedule under the fund and launched a plotted development along the Yamuna Expressway where demand significantly exceeded supply. Vipul Roongta, CEO and Managing Director of HDFC Capital, said most projects launched under the portfolio are now priced nearly three times higher than their launch rates within four to five years, reflecting India’s strong unmet demand for high-quality, well-designed mid-income homes.

The ATS group established HomeKraft Infra in 2017, with equity participation from an HDFC Capital-managed fund, to focus exclusively on mid-income housing across Delhi NCR. HDFC Capital Advisors manages four SEBI-registered Category II AIFs, including HCARE-2, forming a USD 4.5 billion platform targeting affordable and mid-income housing nationwide.

Pankaj Khanna, Associate Principal for Investments and Technical at HDFC Capital, said the partnership with HomeKraft demonstrates confidence in developers who combine disciplined execution with strong consumer traction in the mid-income segment.

The exit follows another recent repayment by the ATS group, which prepaid Rs 1.9 billion to the SWAMIH Investment Fund I for a project on the Dwarka Expressway. HomeKraft said these repayments highlight strong cash flows, improving balance-sheet strength and the group’s commitment to timely delivery.

The company is now preparing a new launch in Gurugram, supported by a fresh Rs 2.5 billion fundraise from H-CARE 3, slated for release in 2026.

Delhi NCR-based mid-income housing developer HomeKraft, part of the ATS group, has provided a full exit to HDFC Capital Affordable Real Estate Fund-2 (HCARE-2) by repaying Rs 12.5 billion to the fund. According to the developer, the repayment was made entirely from HCARE-2 portfolio project cash flows, without any third-party refinancing — a rare outcome in India’s residential real-estate sector. HCARE-2’s portfolio with ATS HomeKraft comprised more than 7,500 units with a total sales value of Rs 80 billion. HomeKraft said it delivered multiple projects ahead of schedule under the fund and launched a plotted development along the Yamuna Expressway where demand significantly exceeded supply. Vipul Roongta, CEO and Managing Director of HDFC Capital, said most projects launched under the portfolio are now priced nearly three times higher than their launch rates within four to five years, reflecting India’s strong unmet demand for high-quality, well-designed mid-income homes. The ATS group established HomeKraft Infra in 2017, with equity participation from an HDFC Capital-managed fund, to focus exclusively on mid-income housing across Delhi NCR. HDFC Capital Advisors manages four SEBI-registered Category II AIFs, including HCARE-2, forming a USD 4.5 billion platform targeting affordable and mid-income housing nationwide. Pankaj Khanna, Associate Principal for Investments and Technical at HDFC Capital, said the partnership with HomeKraft demonstrates confidence in developers who combine disciplined execution with strong consumer traction in the mid-income segment. The exit follows another recent repayment by the ATS group, which prepaid Rs 1.9 billion to the SWAMIH Investment Fund I for a project on the Dwarka Expressway. HomeKraft said these repayments highlight strong cash flows, improving balance-sheet strength and the group’s commitment to timely delivery. The company is now preparing a new launch in Gurugram, supported by a fresh Rs 2.5 billion fundraise from H-CARE 3, slated for release in 2026.

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