ATS HomeKraft Repays ₹1,250 Cr Without Refinancing

ATS HomeKraft, a mid-income housing developer based in Delhi-NCR, has concluded a significant financial milestone by fully repaying ₹1,250 crore to HDFC Capital Affordable Real Estate Fund-2 (HCARE-2). This substantial sum was remitted using internal cash flows generated from the HCARE-2 portfolio projects, a testament to the company's financial management and operational success, as no third-party refinancing was utilized.

The partnership, largely initiated during the pandemic-induced economic slowdown, has proven fruitful. HDFC Capital executives noted that the collaboration underscores their confidence in developers like ATS HomeKraft who exhibit strong execution capabilities and sustained sales momentum. This confidence is further supported by the remarkable appreciation in property values within the portfolio.

Indicating a thriving market for quality mid-income housing, projects under the HCARE-2 umbrella have reportedly seen their prices nearly triple over the last four to five years. This surge reflects a substantial unmet demand within this segment. ATS HomeKraft now boasts a significant development pipeline, with 8 million sqft already delivered and an additional 15 million sqft currently under development.