Arihant Secures Funding From HDFC Ltd

Arihant Secures Funding From HDFC Ltd
29/05/2018 , by , in News/Views

Arihant Abode Limited, a Subsidiary of Arihant Superstructures Ltd. has been sanctioned a facility from Housing Development Finance Corporation Ltd. to the tune of 250 Cr for their Flagship Housing project Arihant Aspire located at Panvel having saleable area of 3.1 mn sq. ft under development.

Arihant Aspire, Panvel will deliver ‘8’ magnificent 42 storied towers totaling 2,715 units consisting of Lavish Studio & 2BHK. The project is spread across 16.5 acres with designer landscaping by SITE CONCEPTS, Singapore along with a 2 acre garden located close to the upcoming Navi Mumbai International Airport.

Commenting on the facility granted, Mr. Ashok Chhajer, CMD of Arihant Superstructures Limited said, “We have been able to reduce our secured debt in the last 1 year with prudent cash flow management. A number of our projects have reached the maturity levels throwing up positive cash flows, which are utilized to reduce project specific debt. The funding for the new projects would be a judious blend of various instruments in the best interests of our stakeholders. We thank HDFC for extending this line of credit and reinforcing their confidence in Arihant Brand”.

Arihant Superstructures Limited (ASL) is one of India’s leading real estate companies with a predominant focus on the affordable housing segment in the Navi Mumbai, MMR and the Jodhpur region. With an impeccable record of planning and execution of projects backed by professional management, Arihant Group has delivered 8000 homes amounting to 7 Mn sq. ft. across 50+ projects.

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