Namo Realtech Secures Rs 350 Crore for Gurgaon Residential Development

Namo Realtech has borrowed Rs 350 crore from a real estate lending platform run by BGO-Aditya Birla Sun Life AMC to fund a residential project in Gurgaon. This structured credit vehicle, launched in June 2022, plans to escalate its investment to USD 1 billion by 2028.

Namo Realtech has secured a substantial loan of Rs 350 crore from a real estate lending platform managed by BGO-Aditya Birla Sun Life AMC, aimed at developing a residential project in Gurgaon. The strategic investment highlights the growing appeal and potential of India's real estate sector.

Initiated in June 2022, the structured credit investment vehicle has so far committed USD 100 million across 10 deals, with plans to significantly boost its investments to USD 1 billion by 2028. This move underscores the commitment to fostering growth and innovation in India's booming property market.

A Balasubramanian, Managing Director and CEO of AMC, emphasized their dedication to providing strategic real estate credit solutions, while Bharat Khanna, head of India for BGO, noted the thrivability of the Indian residential market. Mohit Jain, Managing Director of Namo, remarked that the investment would propel the company's future strategies.

(With inputs from agencies.)