Hero Realty Secures Rs 12 bn Debt from IndusInd Bank

This report covers key India-focused updates related to loans, EMI, interest rates and banking. Hero Realty Secures Rs 12 bn Debt from IndusInd Bank Hero Realty Secures Rs 12 bn Debt from IndusInd Bank The borrowing follows a partnership with HDFC Capital Advisors that created a Rs 10 bn platform for residential projects in tier-one and tier-two cities. The funds will be used for ongoing and upcoming housing projects to bolster liquidity and delivery schedules. Rohit Kishore, chief executive officer of Hero Realty, said institutional backing reflected confidence in the company’s strategy and execution. Hero Realty is developing more than six million (mn) square feet across the National Capital Region, Punjab, Uttarakhand and Uttar Pradesh. The firm has expanded in premium residential and plotted development segments and recently launched The Palatial by Hero Homes in Sector 104, Gurugram on the Dwarka Expressway, spanning nearly 11 acres with more than 680 apartments and retail space.