Piramal Finance Limited has sanctioned two construction financing transactions aggregating ₹266 crore to ASOJ Realty LLP and Mexus Real Estate Developers LLP, entities forming part of the Solitaire VTP Group, for the construction and development of residential projects in Pune.

The transactions were structured on a cross-collateralised basis, with the underlying project assets and related security interests supporting the obligations of the Borrowers.

HSA Advocates advised Piramal Finance across the principal legal workstreams, with The Firm's Real Estate, Banking & Finance and Corporate teams working together on the transactions. The transactions involved coordinated assessment of title, development rights, project approvals, borrower capacity and security enforceability, alongside the structuring and documentation of the financing arrangements.

The transaction was led by Himani Singh (Partner, Real Estate), Srivar Awasthi (Partner, Banking & Finance) and Aditya Khandelwal ( Partner, Corporate), with support from Aasiya Khan (Principal Associate), Associates Vanita Dave and Kermina Patel.

The transactions comprise (i) an ₹168 crore construction financing facility extended to ASOJ Realty LLP for the development of VTP Aurelia, situated at Village Manjari Khurd, Taluka Haveli, Pune; and (ii) an ₹98 crore construction financing facility extended to Mexus Real Estate Developers LLP for the development of VTP Volare, situated at Village Hinjewadi, Taluka Mulshi, Pune.

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