PNN
Mumbai (Maharashtra) [India], December 12: Ekta World has successfully repaid Rs 170 crore to ICICI Bank through phased repayments, backed entirely by the strong sales and collections from its marquee development, Ekta Tripolis. The repayment, done recently, was completed without any external financing, marking a significant milestone for the company, demonstrating strong financial resilience, backed by operational discipline and continued buyer confidence.
The repayment follows a period of exceptional performance at Ekta Tripolis, where the project's financial health has strengthened considerably since the receipt of occupancy certificates. The occupancy certificates for two towers were received in 2023, while the same was issued for the third tower in 2025, post which the development witnessed improved demand and accelerated collections.
Ekta Tripolis, consisting of three towers and over 600 units, is now complete, with possession handed over to 503 families. The extensive infrastructure including the clubhouse, swimming pool, retail high street, landscaped areas and sports zones has created a vibrant community, drawing strong resident satisfaction and referrals.
The project's success has significantly contributed to the company's balance sheet, with the repayment representing a reduction in the group's total debt. The repayment has been achieved purely from the cash flows of Ekta Tripolis, underscoring the development's robust sales performance and reinforcing the market's appetite for ready possession homes with comprehensive amenities.
Commenting on the development, Mr. Vivek Mohanani CEO and Managing Director of Ekta World said, "Our journey with Ekta Tripolis has been driven by conviction in the product, backed by the trust of our customers. This loan repayment is not just a financial milestone for us, but a strong validation of our approach, prioritising quality and creating communities that people genuinely want to live in. For is this reflects our strength and the confidence homebuyers continue to place in Ekta World."
Over the last 12-18 months, demand for Ekta Tripolis has remained high owing to its completion status and full infrastructure delivery. Nearly 80 retail units form part of the development, with several top brands already operating within the project strengthening its commercial appeal. The inclusion of a home theatre, along with pickle and padel courts, enhances the lively social environment, fostering an active, thriving community that continues to attract strong footfall.
Ekta World is now concentrating on future opportunities within the micro-markets of Bandra Khar and Santacruz, with a continued focus on high-value luxury redevelopment projects. Over the last twelve months, Ekta World has closed two residential and two commercial redevelopment projects in these locations and will remain focused on premium assets valued above 1 million USD.
The company believes that the momentum generated by Ekta Tripolis and the significant debt reduction strongly positions it for the next phase of growth. Ekta World will continue to pursue luxury redevelopment opportunities, leveraging its track record, strong sales performance and the appeal of ready possession homes supported by amenities matching global benchmarks.
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