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Pune Homebuyers rejoice with delivery of 155 units in SWAMIH funded project; Entire investment of SWAMIH repaid

Project Overview

The Kalpak Homes Ph2 is a residential development with total saleable area of 1.41 Lac.Sq ft and 155 units.

Project being developed by Belvalkar Group (Shubhankar Kalpak Builders Pvt Ltd)

The Location

Project is located in Kirkatwadi market of Pune with excellent connectivity by road, and upcoming metro.

History

Project was launched in 2016.

However, delayed due to various reasons such as shortage of funds & low collection.

SWAMIH Investment

  • SWAMIH Fund invested in the project in Nov 2021 with a target to complete the project.
  • Of the committed investment of Rs 25.4 Cr, SWAMIH Fund has invested Rs 12.5 Cr so far.
  • As on November 2023, Shubhankar Kalpak Builders Pvt Ltd has re-paid Rs 12.5 Cr along with 12% XIRR.

SWAMIH Impact

  • Project completed within ~1.5 years of investment.
  • Monitoring to ensure no diversion of funds – all inflows are used for project completion.
  • Contractor/vendors dues cleared. Salaries paid to the employees.
  • 71 new units sold; ~25.0 Cr collected.
  • 121 homebuyers to finally get their homes.