M3M Group on Track to Achieve Debt-Free Status

M3M Group has repaid approximately Rs 1,130 crore of its loan from Indiabulls for a township project in Panipat. The company plans to clear the remaining Rs 170 crore by the first quarter of the 2025-26 fiscal year, achieving a debt-free status. M3M has projects across North India.

M3M Group, a leading real estate firm, has successfully repaid about Rs 1,130 crore of its loan acquired from Indiabulls for the development of a township project in Panipat. The company is committed to settling the outstanding balance of Rs 170 crore in the coming months.

According to a statement released on Monday, the Gurugram-based developer aims to clear the entire Rs 1,300 crore Indiabulls loan within the first quarter of the 2025-26 fiscal year. The loan was initially obtained for the purchase and development of a 337-acre township in Panipat, Haryana.

Robin Mangla, President of M3M India, confidently stated that Rs 802 crore has already been repaid, with an additional Rs 331 crore scheduled for payment on March 31, 2025. The residual loan of Rs 167 crore will be cleared in the first fiscal quarter, thus making M3M Group debt-free. The company boasts a vast 3,000-acre land bank in Gurugram, Noida, and Panipat, and has successfully delivered 36 projects across North India.

(With inputs from agencies.)