Gaurs Group Raises ₹440 Cr for Real Estate Projects and Debt Repayment
Gaurs Group, a leading real estate developer in the Delhi-NCR region, has successfully raised Rs 440 crore through the issuance of non-convertible debentures (NCDs). This significant capital infusion will be utilized for various business requirements, including land acquisition, construction, project execution, and the repayment of higher-cost borrowings.
The NCDs, issued by the group's holding company, Gaursons India Pvt Ltd, were fully subscribed by three leading mutual funds in the country. The debentures will be listed on the National Stock Exchange (NSE), further enhancing the group's financial credibility and market presence.
In a statement, Gaurs Group Director Sarthak Gaur emphasized the importance of this fundraising effort. 'The successful subscription of the NCD issue underscores the group's financial resilience and its growing credibility with institutional investors. It also provides us with greater flexibility to support expansion while maintaining a prudent capital structure,' he said.
Gaurs Group has a robust track record in the real estate sector, having developed over 100 million square feet of area and delivered 75,000 units across 70 projects, including three townships. The company's focus on quality and sustainability has earned it a reputation as one of the leading developers in the Delhi-NCR region.
The funds raised will play a crucial role in supporting the company's growth strategy. Land acquisition remains a top priority, as the real estate market in Delhi-NCR continues to show promising signs of recovery. The capital will also be used to finance ongoing and new construction projects, ensuring timely completion and delivery to clients.
Additionally, the repayment of higher-cost borrowings will help optimize the company's debt structure, reducing financial costs and enhancing profitability. This strategic move aligns with Gaurs Group's commitment to maintaining a strong and sustainable financial position.
With the successful completion of this fundraising, Gaurs Group is well-positioned to capitalize on the growing demand for quality real estate projects in the region. The company's focus on innovation, customer satisfaction, and sustainable development practices will continue to drive its success in the competitive real estate market.
Gaurs Group's commitment to transparency and accountability is evident in its decision to list the NCDs on the NSE. This move will provide greater visibility and liquidity to institutional and retail investors, further strengthening the company's market position.
As the real estate sector continues to evolve, Gaurs Group remains committed to delivering value to its stakeholders and contributing to the development of the Delhi-NCR region. The company's strategic initiatives and financial acumen will play a crucial role in its continued growth and success in the years to come.
