M3M India poised to close ₹1300 crore Indiabulls loan for Panipat township project
Mar 31, 2025 09:25 PM IST
M3M India bought land worth ₹1,300 crore with a loan from Indiabulls in 2022 and the net outstanding as on March 31, 2025 is ₹167 crore, the company said
NCR-based M3M group, a luxury real estate developer, is poised to close the entire ₹1300 crore Indiabulls loan by the first quarter of 2025. The loan was availed by M3M India from Indiabulls for the purchase and development of a township project in Panipat, the company said in a statement.
Robin Mangla, president, M3M India, said, “We have successfully repaid amount of ₹802 crore and are paying an additional ₹331 crore on 31st March 2025 post which the residual loan amount would only be ₹167 crore which will also be repaid within Q1 of 2025 showcasing our strong financial discipline and commitment to timely project execution and repayment of lender dues.”
“This repayment will make the group debt free. The launch of M3M City in Panipat is a testament to our vision of delivering world-class real estate in emerging markets,” the company said.
M3M City of Dreams is the company’s first large-scale venture in a Tier-2 city. The project spans 337-acre and includes premium residential plots, independent floors, schools, temples, social clubs, retail spaces, entertainment zones, and lush green landscapes.
The project has a 1.74 million sq. ft. retail space along with five exclusive lifestyle clubs spanning 200,000 sq. ft. The project has commenced possession for approximately 1,100 customers, the company said in a statement.
Santosh Kumar, Group Vice Chairman, Anarock, commented, “It’s encouraging to see major developers like M3M leading the way in tier-2 city real estate development. The successful delivery of M3M City in Panipat showcases not just vision but execution excellence.”
