Ramky Estates Revives Skylark Projects in Bengaluru with INR 600 Crore SWAMIH Funding
Ramky Estates has secured funding of INR 600 crore through the SWAMIH Fund to revive stalled residential projects in Bengaluru that were previously developed by Skylark Group. The development was confirmed in the past week, with the funding aimed at enabling the completion of delayed housing units.
The projects, located across key residential micro-markets in Bengaluru, had faced execution delays due to financial constraints, leaving several units incomplete. Ramky Estates had earlier taken over these developments as part of a strategy to expand its residential portfolio while addressing stressed assets in the market.
The funding under the SWAMIH initiative will be utilised as last-mile financing to restart construction activity, clear pending liabilities, and ensure delivery to homebuyers. The government-backed fund has been actively supporting stalled housing projects across India, particularly in the affordable and mid-income segments.
With the capital infusion in place, Ramky Estates has initiated steps to mobilise construction resources and streamline project execution. The company is expected to prioritise completion timelines, with a focus on restoring buyer confidence and addressing long-pending delivery commitments.
The revival also highlights the continued role of institutional and government-backed funding mechanisms in resolving stressed real estate assets. Bengaluru, which has witnessed steady residential demand, has also seen pockets of delayed projects requiring structured financial intervention.
The SWAMIH Fund has been instrumental in unlocking stuck inventory by providing targeted financing to viable projects facing liquidity issues. In this case, the funding is expected to bring multiple developments back on track, supporting both project completion and market absorption.
The move underscores a broader trend of consolidation within the residential sector, where financially stronger developers are stepping in to revive stalled projects, supported by structured funding platforms aimed at stabilising the housing market.
