Eldeco & HDFC Capital Announces Rs 350-Cr Funding In Joint Platform
Real estate company, Eldeco Infrastructure and Properties Ltd and one of the largest real estate fund managers in India, HDFC Capital Advisors Limited on Wednesday announced a third round of funding to the tune of Rs350 crore towards their joint platform aimed at developing residential projects across India. The platform size stands at Rs 850 crore at present. Around Rs 500 crore have been invested across two other rounds. The latest round of funding will help development of group housing and plotted projects across multiple cities, namely Delhi, Gurugram, Ludhiana, Sonipat and Goa, the real estate company said in a statement. Eldeco’s on-going projects include Panipat, Sonipat, Rishikesh and Kasauli and have a projected revenue potential of Rs 2,000 crore. The platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crore, the company said in a statement. Some of the other places which are being looked at include Greater Noida (West), Rudrapur, Ludhiana, among others.
Tags : Eldeco Infrastructure and Properties Ltd Greater Noida (West) Rudrapur Ludhiana HDFC Capital Advisors Limited