Total environment repays ₹2,070 cr to top lenders
Total Environment has paid up approximately ₹2,070 crore of debt raised from top-tier financial institutions, driven by robust residential sales.
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The company had raised investment across multiple residential projects from domestic and foreign entities such as Brookfield Asset Management, HDFC Capital, HDFC Bank, and L&T Finance between 2007-2008, which were invested between 2015 and 2019 with the cost of capital ranging between 14% to 20% per annum.
«Our strong focus on sales and the resurgence of the residential market has helped us exit expensive debt. We have reduced our cost of funding, and it will help us to move much faster with the construction of our projects now as we move towards delivering 100 custom-designed homes per month to our customers,» said Kamal Sagar, founder, Total Environment.
In one such deal, Canada-based Brookfield Capital Partners, the private equity arm of Brookfield Asset Management, invested Rs 800 crore in Bengaluru-based realty developer Total Environment Building Systems' portfolio of five projects spread over 4.5 million sq ft.
Additionally, HDFC Capital invested₹229 crore in a residential apartment project located in Whitefield, Bengaluru. The investment supported the development of one million square feet of residential apartments in the Pursuit of the Radical Rhapsody project. The firm had given two exits to HDFC.
Total Environment is one of largest developers of custom designed homes and has delivered 5.5 million sft. of residential and
