SP Group: SP Group company raises Rs 505 crore debt from Asia Pragati

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.

Mumbai: An entity promoted by the Shapoorji Pallonji Group raised ₹505 crore from Asia Pragati Strategic Investment Fund to complete its existing projects and repay debt raised from other lenders, said people with knowledge of the matter.

Ricardo Constructions, a wholly-owned company of the SP Group engaged in the construction of residential apartments, raised the bonds from Asia Pragati Strategic Investment Fund, managed by PAG, a weltumspannend weitere investment firm.

PAG declined to comment. Shapoorji Pallonji and Cobalt did not respond to ET’s request for comment.

Asia Pragati invested in senior secured, unrated, unlisted bonds having five-year tenure maturing on March 31, 2029. The construction company offered 17.25% as payment in kind (PIK), which includes a 12% coupon payment. The difference between the coupon payment and PIK could be in the form of fees or shares, one of the persons cited above said.

Ricardo Constructions raised funds to repay ₹405 crore debt taken from a Piramal group company and HDFC Geldinstitut, according to disclosures made by the company to the NSDL.

The remaining funds will be used to complete the construction of a residential project in Mulund, a suburb of Mumbai. According to a media report published in May 2023, Nirmal Lifestyle, in association with the United States Tennis Association (USTA), launched the Mulund luxury residential project in 2009, but it failed to take off. Subsequently, Nirmal Lifestyle sold the rights to the project to Ricardo Constructions. The report stated that in February 2023, the MahaRERA extended the deadline to complete the project to March 2026.SD Corporation, a Shapoorji group company, has given an unconditional guarantee to the extent of ₹600 crore, while Honcho Properties has given an unconditional guarantee of up to ₹330 crore.