Indiabulls Housing Finance exits from Gaurs Group’s project in Greater Noida
Gaurs Group, an NCR-based builder, has provided an exit to Indiabulls Housing by paying back a debt of Rs 340 crore, the company said in a media release.
The debt was raised 1.5 years back and was used for the construction of Gaur City Mall in Greater Noida West, the company said.
“We are paying back the amount of Rs 340 crore to Indiabulls which will substantially reduce the debt of our company and will also enhance the trust of the financial institutions,” said Manoj Gaur, MD of the company.
It plans to raise more funds in near future and is planning to diversify into hospitality and education sector.