Ramky Estates & Farms Takes Over Stalled Bengaluru Projects, Secures ₹600 Cr SWAMIH Funding

New Delhi, April 30, 2026: Ramky Estates & Farms has taken over stalled residential projects in Bengaluru from Skylark Builders, marking a major step toward reviving delayed housing developments in the city.

₹600 Crore Boost from SWAMIH Fund

To support project completion, the company has secured ₹600 crore funding from the government-backed SWAMIH Investment Fund I, which focuses on last-mile financing for stuck housing projects.

Project Details and Scale

The acquired developments span approximately 4.3 million sq ft across key Bengaluru micro-markets like Electronic City and Whitefield.

• Total units: ~1,881 homes
• Estimated revenue potential: ~₹2,000 crore
• Remaining construction cost: ~₹1,500 crore

The projects have been rebranded as:

• Ramky Lumina (Electronic City)
• Ramky Fortuna (Whitefield)

Construction Progress and Timeline

• Lumina: ~60% complete, expected delivery by FY27
• Fortuna: ~75% complete, delivery as per revised schedule

The projects had faced prolonged delays, impacting more than 1,800 homebuyers.

Relief for Homebuyers, Boost for Market

The takeover is expected to bring relief to affected buyers and restore confidence in stalled projects. It also highlights the growing role of government-backed funding in reviving delayed developments.

The SWAMIH Fund, managed by SBICAP Ventures, has been instrumental in enabling completion of housing projects across India, especially in the affordable and mid-income segments.