Real Estate Pune
Bhumika Realty Secures ₹170 Crore for Faridabad Mixed-Use Project
2026-01-12 · Geosquare
NCR-based Bhumika Realty has raised ₹170 crore from a real estate credit platform of Aditya Birla Sun Life AMC and BGO to fund its new mixed-use project in Faridabad. This significant investment underscores the company's commitment to driving urban growth and meeting the rising demand for modern living and working spaces in the region.
The developer had launched its mixed-use project, The Icon, in December, with an initial investment of ₹700 crore and a projected sales realization of ₹1,500 crore. The funds will be utilized for construction and working capital requirements, ensuring the timely and efficient completion of the project.
The Icon achieved full financial closure within three weeks of its launch, a testament to the strong market confidence and the project's robust fundamentals. The deal was facilitated by property consultant Cushman & Wakefield, further solidifying the project's credibility and market appeal.
Commenting on the deal, Uddhav Poddar, CMD of Bhumika Group, stated that Faridabad is entering a new phase of organized urban growth, supported by significant infrastructure developments and a rising end-user demand. “Closing financial arrangements within weeks of launch reinforces the strength of the project fundamentals and our disciplined approach to capital deployment,” he added.
A Balasubramanian, Managing Director and CEO of Aditya Birla Sun Life AMC, highlighted the unprecedented growth in India's real estate sector, driven by substantial capital deployment from both domestic and foreign investors. Aditya Birla Sun Life AMC and BGO announced their collaboration in June 2022 to form a structured credit investment vehicle, offering strategic financing solutions to developers.
The platform has already committed $130 million to invest in 13 projects across six cities, focusing on post-approval real estate projects with established partners. With a robust deal pipeline under negotiation, the platform aims to achieve $1 billion of deployed capital under this strategy by 2028.
Bhumika Realty's The Icon project is poised to become a landmark development in Faridabad, offering a blend of residential, commercial, and recreational spaces. The project's strategic location and comprehensive amenities are expected to attract a diverse range of buyers, from young professionals to families seeking a high-quality living environment.