Eldeco Housing & Industries Secures Rs. 110 Crore Term Loan from Piramal Finance

Eldeco Housing & Industries Ltd. has executed a term loan agreement with Piramal Finance Limited for an amount of Rs. 110,00,00,000. The loan will be used for land acquisition in Lucknow, group project expenses, and project expenses. The agreement was executed on February 11, 2026. The loan is a Rupee Term Loan with a total amount of Rs. 110,00,00,000, and the total amount outstanding is also the same. The security provided for the loan includes an exclusive charge by way of mortgage over Project Land i.e. Solano Gardens (30 acres), hypothecation over Project Receivables, corporate guarantee of Eldeco Inception Buildtech Private Limited, 100% shareholding pledge of Ascendancy Constructions Private Limited and Carnation Realtors Private Limited, charge over the Escrow Account, post-dated/undated cheques for scheduled interest and principal payments, a Demand Promissory Note, a shortfall undertaking from the Borrower, and any other security/rights as may be stipulated by the committee and/or as may be detailed in Definitive Agreements.