Indiabulls Exits Three Realty Projects of Investee Firms

MUMBAI: Mortgage lender IndiabullsNSE 4.99 % Housing Finance has exited three realty projects of its investee companies across Mumbai, the National Capital Region (NCR) and Hyderabad, worth nearly Rs 450 crore, said two persons with direct knowledge of the development.

In the largest of these three transactions, realty developer M3M has repaid Rs 225 crore to the lender after raising funds from the State Bank of India for its residential development project M3M Golf Estate in Gurgaon, The project is spread over 56 acres and includes an executive golf course.