Adarsh Developers repays Edelweiss Alternative Asset Advisors' Rs.750-Cr debt

Bengaluru-based real estate firm Adarsh Developers has repaid an INR 750 crore structured finance facility that it had received from Edelweiss Alternative Asset Advisors in 2022. The repayment, aided by operational cash flow and lower-cost refinancing from banks, has helped the firm reduce its cost of funds by 8-9 percentage points.The funding received from Edelweiss, raised at over 20%, was used for reviving its residential projects and generating liquidity.Adarsh had raised the funds for three projects totalling 2.5 million sq ft and 900 plots in Bengaluru. The projects - Adarsh Savarna, Adarsh Wellin Park and Adarsh Lakefront - are under construction and are projected to be completed by the end of 2028.