Jul 14, 2026 – 6.53pmBathla Group, a property developer behind endless rows of identikit new-build homes across many western Sydney suburbs, is hardly a household name. In the private credit world, however, everybody has a Bathla story.The company, once known as Universal Property, mostly builds large housing estates, apartments and townhouses, and targets its marketing at new migrants. It’s also one of the largest single property borrowers from private credit in the nation. It has nearly $3.2 billion in debt and most of that is to non-bank lenders.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
This Sydney developer could be private credit’s ticking time bomb
Some of the country’s largest private credit groups are neck-deep in a developer they think is too big to fail. But some say it’s a house of cards.
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