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HDFC Capital, the real estate private equity arm of HDFC Group, has partnered with Total Environment, one of South India's leading real estate developers, to form a Rs 1,300 crore platform for developing high-quality homes in Bangalore.
This strategic collaboration will add 6.5 million square feet of new residential projects to the ongoing 16 million square feet of residential projects being developed by Total Environment. The new residential projects will have a combined GDV of Rs 10,100 crores, delivered over the next four to five years.
The partnership will develop sustainable greenfield residential projects that enhance the city's housing landscape by providing quality living spaces for its residents.
Vipul Roongta, Managing Director & CEO of HDFC Capital, said, "HDFC Capital is committed to strengthening our partnership with trusted real estate developers with an established track record. Our collaboration with Total Environment helps address the significant demand for sustainable, high-quality homes for mid-income and upper mid-income households in India."
Kamal Sagar, Founder of Total Environment, stated, "We are glad to build upon and deepen our long-standing partnership with HDFC Capital. The investment provides long-term and flexible capital to fund and develop large, vibrant residential communities and includes investment into some of our ongoing projects to help deliver them faster. This collaboration will help further our mission to continuously improve our products and services through care and craftsmanship."
This platform marks the fourth investment by HDFC Capital in Total Environment, highlighting its strategy of partnering with top-rated developers. Two of the three existing investments have resulted in successful exits, creating significant value for all stakeholders.
