Deals
Blackstone’s India Lender Aadhar to Exit Developer Financing
- Aadhar Housing to be 100% retail focused, CEO told Bloomberg
- Tripathi expects some credit market healing in next quarter
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Blackstone Group Inc.’s Indian mortgage lender plans to exit its small builder financing business at a time when pain from the nation’s credit crunch abounds, with another victim claimed this week.
“We are in the process of phasing out this small builder loan portfolio to keep the company 100% retail focused as per mandate from new owners,” said Deo Shankar Tripathi, 66, chief executive officer of Aadhar Housing Finance Ltd., in an interview.