Global real estate investment management advisor, BGO and Aditya Birla Sun Life AMC Limited has provided Rs 350 crore in debt funding to realty firm Namo Realtech for its residential development project in Gurugram.
BGO and Aditya Birla Sun Life AMC Ltd had announced their collaboration to form a structured credit investment vehicle in June 2022, offering strategic financing solutions for transformative projects. Ever since, the platform has successfully committed to nine projects across five cities focusing on post approval projects with established real estate partners.
A joint statement issued on July 28 said that with the Namo Realtech deal, the platform has committed $100 Million across 10 deals with 7.8 million square feet of area under management. With the robust deal pipeline under negotiation and a thriving Indian real estate market, the platform targets to achieve $1 Billion of deployed capital under this strategy by 2028, the statement said.
AZB & Partners, Quantum and Trilegal acted as advisors on the transaction, it said.
A Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Ltd., said that India’s real estate sector has seen an increasing transformation in recent years with the help of government initiatives like GST and RERA.
“We remain dedicated to providing strategic real estate credit solutions that foster growth and innovation in India’s property sector. The funding is a testament to our shared vision of supporting high-value projects and driving long-term value creation,” he said.
Bharat Khanna, Head of India at BGO, said, “We are pleased to support Namo Realtech’s expansion through this funding, reinforcing our belief in India’s thriving real estate market. India’s residential market continues to show strong potential, and this transaction reflects our confidence in its sustained growth.
Namo Realtech is currently undertaking two projects in collaboration with Max Estates spanning a total area of over 30 acres with approximately 6.4 million square feet under development. The company is gearing up to launch its next project, a premium residential project in Gurugram in collaboration with Max Estates.
“This funding represents a pivotal step in strengthening our real estate business and expanding our footprint across various other strategic initiatives. As we continue to scale, this investment will allow us to accelerate our future plans with regard to new projects that are already in the pipeline and at fairly advanced stages of discussion with other potential collaborators,” Mohit Jain, Managing Director at Namo Realtech, said.
Aditya Birla Sun Life AMC Limited (ABSLAMC) was incorporated in the year 1994. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the promoters and major shareholders of the Company. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds.
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