Mumbai-based real estate developer House of Abhinandan Lodha (HoABL) has returned around ₹1,100 crore to HDFC Capital Advisors Limited, a leading investor in the company, through an early exit from five projects under their joint investment platform, the company said in a statement on Sunday.
HoABL and HDFC Capital partnered in 2023 to set up a platform to invest in plotted developments and low-rise projects across metros, Tier-II cities and emerging markets in India.
HDFC Capital had committed around ₹1,500 crore to the platform across 11 projects. The early delivery of some projects generated cash flows, allowing HoABL to provide an exit to HDFC Capital ahead of schedule across five projects. The company has returned around ₹1,100 crore to the investor so far.
Vipul Roongta, chief executive officer of HDFC Capital, said, “HoABL is a new-age real estate company which has successfully created a differentiated real estate niche, particularly through plotted developments, low-rise projects and focus on affordable and mid-income housing in key property markets across India.” He said HDFC Capital had been an early investor in HoABL and that the value created through the investment reflected the strong partnership between the two companies.
Abhinandan Lodha, chairman of HoABL, said the exit was a significant milestone for the company. “The transaction underscores HoABL’s approach of identifying high-potential real estate opportunities and actively working towards value creation throughout the investment lifecycle,” he said, adding that the company remained focused on building its portfolio and delivering sustainable outcomes for investors.
HoABL said it had focused on identifying locations, acquiring assets, developing projects and improving asset values over the past five years.
