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M3M India bought land worth Rs 1,300 crore with a loan from Indiabulls in November 2022 and the net outstanding as on 31st March 2025 is only Rs 167 crore.
Gurugram-based realty major M3M group is poised to close the Rs 1300-crore Indiabulls loan by Q1 of the 2025-26 fiscal. The loan was availed by M3M India from Indiabulls for the purchase and development of M3M City of Dreams, a realty project in Panipat and the company’s first large-scale venture in a Tier-2 city.
M3M City of Dreams, popularly referred to as M3M City in Panipat, has commenced possession for its first phase. The project spans 337 acres and includes premium residential plots, independent floors, schools, temples, social clubs, retail spaces, entertainment zones, and lush green landscapes.
The project also boasts of a 1.74 million sq. ft. retail space, making it one of the largest marketplaces in North India, along with five exclusive lifestyle clubs spanning 200,000 sq. ft., ensuring a vibrant commercial and social environment for its residents.
Commenting on the development, Robin Mangla, President, M3M India, said, “We have successfully repaid Rs 802 crore and are paying an additional Rs 331 crore on 31st March 2025 post which the residual loan amount would only be Rs 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 and further strengthens our credibility in the real estate sector, reinforcing investor confidence in our strategic growth initiatives. The launch of M3M City in Panipat is a testament to our vision of delivering world-class real estate in emerging markets. The project has commenced possession for approximately 1,100 customers, offering a premium living experience with top-tier amenities,” he added.
Santosh Kumar, Group Vice Chairman, Anarock, commented, “It’s encouraging to see developers like M3M leading the way in tier-2 city real estate development.”
Source : FE
