ATS Infrastructure Repays Rs 190 Crore to SWAMIH Fund After Completing Gurugram Project
ATS Infrastructure, a leading real estate player in the Delhi-NCR region, has successfully repaid Rs 190 crore to the government-backed SWAMIH fund after completing the 'ATS Marigold' project in Gurugram. The project faced delays due to the NBFC crisis and the COVID-19 pandemic but was completed with the help of last-mile funding.
Ats InfrastructureSwamih FundGurugramReal EstateResidential ProjectsReal Estate NewsJul 31, 2025
The 'ATS Marigold' project, located on the Dwarka Expressway in Gurugram, faced significant delays due to the NBFC crisis in 2018 and the subsequent COVID-19 pandemic. These events led to a severe cash crunch and slowed sales, making it challenging for the company to complete the project on time.
The SWAMIH fund, managed by SBICAP Ventures Ltd, a State Bank Group company, provided the necessary last-mile funding to ATS Infrastructure. This financial support was crucial in ensuring the project's completion, which comprises 422 units across six towers. The company has also obtained the occupation certificate from the authorities, marking a significant milestone in the project's development.
Udaivir Anand, Managing Director of ATS Group, expressed gratitude for the SWAMIH fund's support. He stated, “The fund has been instrumental in completing this project, which was facing a significant cash crunch due to the pandemic and the NBFC crisis. We are pleased to have repaid the principal and interest amount to SWAMIH, and we are committed to delivering high-quality projects to our customers.”
The SWAMIH fund was introduced by the Indian government in November 2019 to address the issue of stalled housing projects across the country. The first fund, with a corpus of Rs 15,530 crore, has been successful in providing relief to distressed homebuyers. Following this success, the government announced a fresh Rs 15,000 crore 'SWAMIH Fund' in this year's Budget to complete 1 lakh units in stalled housing projects across various cities.
Noida-based ATS Group is one of the leading players in the Delhi-NCR residential real estate market. The company has a strong track record of delivering quality projects and has recently sold properties worth Rs 2,000 crore on the Dwarka Expressway and Yamuna Expressway, near the upcoming Jewar Airport. ATS Group is currently in the process of launching end-user-focused projects in Gurgaon and North Delhi, further solidifying its position in the region.
The completion of the 'ATS Marigold' project and the timely repayment to the SWAMIH fund highlight ATS Infrastructure's commitment to excellence and financial responsibility. The company's ability to navigate through challenging times and deliver on its promises is a testament to its strong management and strategic planning.
Frequently Asked Questions
What is the SWAMIH Fund?
The SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund is a government-backed stress resolution fund designed to complete stalled housing projects across India. It provides last-mile funding to ensure that homebuyers' investments are not stuck in incomplete projects.
How much did ATS Infrastructure repay to the SWAMIH Fund?
ATS Infrastructure repaid Rs 190 crore to the SWAMIH Fund, which includes Rs 133 crore as the principal amount and Rs 57 crore as interest.
What is the 'ATS Marigold' project?
The 'ATS Marigold' project is a residential housing project located on the Dwarka Expressway in Gurugram. It comprises 422 units across six towers and faced delays due to the NBFC crisis and the COVID-19 pandemic.
When did the SWAMIH Fund invest in the 'ATS Marigold' project?
The SWAMIH Fund invested in the 'ATS Marigold' project in February 2021 when the project had nearly 4.5 lakh sq ft of unsold inventory and relatively subdued sales momentum.
What other projects is ATS Group working on?
ATS Group is currently working on launching end-user-focused projects in Gurgaon and North Delhi. The company has recently sold properties worth Rs 2,000 crore on the Dwarka Expressway and Yamuna Expressway, near the upcoming Jewar Airport.
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