Eldeco and HDFC Capital joint platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crore. Out of this, projects with estimated revenue of Rs 2,000 crore have already been launched in Panipat, Sonipat, Rishikesh and Kasauli.
Omaxe has secured new financial assistance totalling Rs 450 crore from Kotak Mahindra Bank Limited and out of this amount, Rs 290 crore has been utilized to repay the facility initially obtained from Varde Partners and the remaining Rs 160 crore will be allocated for development of its projects.
The directions came after the regulator witnessed that many of the promoters were not filing the QPRs of their projects in time and some of them filed the subsequent QPRs without filing the pending ones.