Hubtown to merge promoter entities, boost assets, and cut debt

Hubtown Limited, a real estate developer, is implementing a strategic merger of three promoter group entities – 25 West Realty Private Limited, Twenty Five South Realty Limited, and Twenty Five Downtown Realty Limited – into the listed entity. These mergers are expected to add a combined developable area of 4.5 million sq ft and contribute an estimated development value of INR 400+ bn. The unlisted entities are slated to be merged over the next 12 months, pending regulatory approvals and third-party valuations.

The company also reports a significant reduction in its listed company debt, decreasing by approximately 69% from INR 34 bn in 2017 to an expected INR 10.76 bn by September 2025. This includes self-liquidating debt of INR 10.12 bn (project-backed) and corporate debt of INR 1.88 bn. Major creditors as of September 2025 include NBFCs with about INR 6.0 bn and a Special Window Fund with about INR 2.0 bn. The company also notes a contingent liability of INR 4.83 bn.

The presentation highlights Hubtown's diversified presence across residential, commercial, and infrastructure segments, with a high-potential land bank of 23.1 million sq ft ready for launch. Key projects for merger include 25 West (Bandra), 25 South (Prabhadevi), and 25 Downtown (Mahalaxmi), with estimated development values ranging from INR 53 bn to INR 277 bn and completion timelines extending to 2034.