HDFC Capital has invested Rs 1,450 crore in realty developer Kalpataru's portfolio of projects and land parcels in one of the largest investment deals in the residential sector.
The funds obtained by Kalpataru will be channeled towards constructing residential complexes in upcoming mid-income ventures as well as providing assistance to finalize ongoing projects in the Mumbai Metropolitan Region and Pune.
The deal has been concluded and the disbursement of funds has been scheduled for the designated projects, which will commence shortly. The chosen projects have a promising scope for development and high visibility for sales.
HDFC Capital, a subsidiary of mortgage lender HDFC Ltd, is India's largest residential fund manager. Kalptaru has a presence in nine cities and has completed 110 projects totaling more than 24.1 mn sq ft in the residential, commercial, and retail sectors.
In India, HDFC Capital has been a leading investor in low- and middle-income housing projects. It provides long-term, flexible funding for projects in these segments throughout their lifecycle, including early-stage funding.
