HDFC Capital to Invest ₹1.5k Cr in 18 Eldeco Projects

HDFC Capital will invest ₹1,500 crore in realty firm Eldeco Group's upcoming 18 housing projects in small towns where it sees huge demand for quality homes.

- Press Trust of India

NEW DELHI:

These 18 housing projects are estimated to generate a total revenue of about ₹11,000 crore.

HDFC Capital Advisors Ltd, the real estate private equity arm of HDFC Group, has set up a property development platform in partnership with Delhi-based Eldeco Group. The platform will develop 18 residential projects in tier II-III cities across various states, including Haryana, Punjab, Himachal Pradesh and Uttarakhand.

The total developable area in these 18 projects will be more than 10 million (100 lakh) square feet with a combined revenue potential of about ₹11,000 crore," HDFC Capital said.

"We will be infusing ₹1,500 crore in this joint platform with Eldeco Group," said Vipul Roongta, Managing Director & CEO of HDFC Capital.

Eldeco Group will also put in money in this platform.

Last month, HDFC Capital, partnered with realty firm Total Environment to form a ₹1,300-crore platform for development of about ₹10,000 crore worth housing projects in Bengaluru.