Debt

Debt financing

Realtor Bhumika Group raises Rs.100-Cr

Economic Times  

NCR-based realty developer Bhumika Group has raised close to Rs 100 crore between debt and two Lease Rental Discounting (LRD) transactions. The company is in talks to raise another Rs 200 crore debt to fund the construction of phase 2 of its 3.5 lakh sq. ft. retail space in Udaipur mall. Majority or phase 1 has already been leased out. The tenants have started fit outs in the mall that will be the largest in Udaipur and will become operational in August 2022. The group is in talks for a joint development agreement with the land owner to develop villas and low-rise buildings in Udaipur and Alwar. The residential township in Udaipur and Alwar will be spread across 15-20 acres. Bhumika Group also has plans to expand in cities like Jaipur, Jodhpur, Kota, Bikaner, Ajmer & Delhi NCR.