The House of Abhinandan Lodha (HoABL) has prepaid a Rs 1,100 crore loan to HDFC Capital Advisors before its due date, marking an early exit for the private equity firm from a platform created to fund plotted developments and low-rise housing projects across India.
HoABL said in a statement that it made the payment towards the principal amount across multiple projects. The repayment gives HDFC Capital an exit from the investment platform, which the two companies established in 2023 to invest in plotted developments and low-rise projects in metros, Tier II cities and emerging markets.
HDFC Capital had committed around Rs 1,500 crore to the platform across 11 projects. With the latest transaction, HoABL said it has returned around Rs 1,100 crore to HDFC Capital under the platform. The company did not disclose the amount of any remaining commitment or provide project-level details in the statement.
The transaction comes as plotted development remains a significant part of HoABL’s business model. Founded in 2020, the company focuses mainly on housing plot projects and also develops low-rise housing. It said it has sold more than 13 million square feet in just over five years of operations and currently has 25 million square feet under active development across five states.
The states identified by the company include Maharashtra, Goa and Uttar Pradesh. HoABL’s stated focus includes affordable and mid-income housing, although the statement did not provide a break-up of sales, project locations, customer categories or the number of homes and plots delivered.
Vipul Roongta, chief executive officer of HDFC Capital, said HoABL had created a differentiated real estate niche through plotted developments, low-rise projects and its focus on affordable and mid-income housing in key property markets. He said HDFC Capital had been an early investor in HoABL and would continue its association with the company.
Abhinandan Lodha, chairman of HoABL, described the repayment as a significant milestone and said it demonstrated the company’s commitment to creating value for investment partners. He said the company would remain focused on building its portfolio and delivering sustainable outcomes for investors.
HDFC Capital, a subsidiary of HDFC Bank, is the real estate private equity arm of the HDFC Group. It focuses on financing the development of affordable and mid-income homes in a sustainable manner. The 2023 platform with HoABL was structured around multiple projects rather than a single development, linking institutional capital to housing and plotted land projects across different urban and emerging markets.
The company’s announcement establishes the value of the repayment and the scale of its development pipeline, but does not disclose project-wise financial performance, sales realisation, construction status or the timeline for completing the 25 million square feet under active development. HoABL’s next stated priority is to continue building its portfolio while delivering outcomes for its investment partners.
