Omaxe Pays Off Debt, Fuels Growth with New Funds

18 Jan 2024 CW Team

Omaxe Group, a listed real estate developer, has completed the early closure of a Rs 440 crore loan while securing fresh financial assistance of Rs 450 crore from Kotak Mahindra Bank, signifying a strategic financial maneuver for future growth.

The company fully repaid the loan from Credit Solution India Trust (Varde Partners) along with accrued interest, demonstrating its financial discipline and commitment. Rs 290 crore of the new funding from Kotak Mahindra was used to repay Varde Partners, while the remaining Rs 160 crore will be channeled towards ongoing project development.

"This development significantly fortifies our position for sustained growth and success," said Atul Banshal, Omaxe Director of Finance. He expressed thanks to Varde Partners for their support in the Omaxe Chowk project and reaffirmed the company's commitment to delivering exceptional real estate projects.

In line with this commitment, Omaxe Managing Director Mohit Goel had previously announced plans to launch projects spanning 1,200 acres in Tier II and Tier III cities across Uttar Pradesh, Madhya Pradesh, and Punjab, with an expected investment of Rs 4,000 crore over the next four years.

This strategic financial move and planned project expansion underscore Omaxe's focus on consolidating its financial position while driving robust growth in the coming years.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..