Edelweiss Financial makes Rs 1.7 Bn exit from Andheri project
ECONOMY & POLICY

Edelweiss Financial makes Rs 1.7 Bn exit from Andheri project

Edelweiss Financial Services has successfully exited with Rs 1.75 billion from Paradigm Realty’s mixed-use township project, 102 Downtown, located in Mumbai's Andheri West suburb. The repayment, completed two quarters ahead of schedule, was facilitated by strong sales collections and refinancing at an interest rate below 13% per annum. This milestone marks the transition to the project's second development phase, according to Paradigm Realty.

The debt, raised two years ago, supported the residential phase of 102 Downtown, a 10-acre joint venture with Prozone Realty. The project features a 4.5 million sq. ft. development potential, including 1.3 million sq. ft. of residential spaces and plans for a shopping centre poised to become one of the largest malls in Mumbai’s western suburbs.

Parthh K Mehta, Chairman and Managing Director of Paradigm Realty, attributed the early repayment to financial discipline and operational efficiency. He acknowledged Edelweiss Financial Services' funding as instrumental in expediting the delivery of the first phase, which includes 600 apartments.

This successful debt repayment underscores the project’s robust financial management and strong market performance, setting the stage for further development of the township.


Edelweiss Financial Services has successfully exited with Rs 1.75 billion from Paradigm Realty’s mixed-use township project, 102 Downtown, located in Mumbai's Andheri West suburb. The repayment, completed two quarters ahead of schedule, was facilitated by strong sales collections and refinancing at an interest rate below 13% per annum. This milestone marks the transition to the project's second development phase, according to Paradigm Realty. The debt, raised two years ago, supported the residential phase of 102 Downtown, a 10-acre joint venture with Prozone Realty. The project features a 4.5 million sq. ft. development potential, including 1.3 million sq. ft. of residential spaces and plans for a shopping centre poised to become one of the largest malls in Mumbai’s western suburbs. Parthh K Mehta, Chairman and Managing Director of Paradigm Realty, attributed the early repayment to financial discipline and operational efficiency. He acknowledged Edelweiss Financial Services' funding as instrumental in expediting the delivery of the first phase, which includes 600 apartments. This successful debt repayment underscores the project’s robust financial management and strong market performance, setting the stage for further development of the township.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?