April 25, 2024: Eldeco Infrastructure and Properties and HDFC Capital Advisors have raised an additional round of funding of Rs 350 crore in their joint platform. This will be used to develop group housing and plotted development projects in Delhi, Gurugram, Ludhiana, Sonipat and Goa, mention media reports. With the latest funding included, the size of the platform stands at Rs 850 crore.
Over Rs 500 crore has already been deployed by the company in residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West) and Gurugram.
As per the company, the platform’s cumulative revenue potential across 17 projects is estimated to be around Rs 8,000 crore. Of this, projects with projected revenues of Rs 2,000 crore have been launched in Panipat, Sonipat, Rishikesh and Kasauli.
“After a prolonged downturn, the demand for premium housing has surged all over the country in the last couple of years. Apart from first time home buyers, a significant percentage of demand is coming from people who want to upgrade to newer and better homes,” said, Pankaj Bajaj, Chairman of Eldeco Group, in an official statement.
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