Mahagun Group raises Rs 225 crore from CSL Finance Limited

Noida-based Mahagun Group has raised Rs 225 crore from CSL Finance Limited to accelerate project execution across its portfolio.

The group repaid Rs 650 crore debt for the Mahagun Medalleo project of which Rs 310 crore in principal and approximately Rs 340 crore in interest.

The infusion of fresh capital will enhance liquidity and enables the Group to fast-track construction and focus on timely delivery.


“Securing fresh funding alongside the successful closure of our previous debt is an important step in strengthening our financial foundation,” said Amit Jain, Director, Mahagun Group.

This development reflects Mahagun Group’s continued emphasis on financial strength, disciplined execution, and building long-term stakeholder trust as it advances its development portfolio.

Recently, Mahagun Group entered into a settlement with IDBI Trusteeship Services Ltd that had initiated insolvency proceedings against the real estate developer, giving hope to homebuyers associated with its ongoing project in Noida.

The National Company Law Tribunal (NCLT) on February 17 allowed withdrawal of the insolvency petition following a request from IDBI Trusteeship, which represents holders of Mahagun’s non-convertible debentures, according to court documents.

The NCLT had in August last year ordered initiation of corporate insolvency resolution process against Mahagun on IDBI Trusteeship’s petition claiming default on repayment of Rs 260 crore.