Eldeco Infrastructure and Properties secures Rs 350-crore funding from HDFC Capital moneycontrol.com
Eldeco Infrastructure and Properties Limited (EIPL), a north India-based real estate developer, has raised a funding of Rs 350 crore from HDFC Capital Advisors Limited for their joint platform to develop housing projects. EIPL, which a subsidiary of listed firm Eldeco Housing and Industries Limited, noted that these funds will be aimed at developing residential projects across the country. HDFC Capital, a subsidiary of HDFC Bank Ltd, is the real estate private equity arm of the HDFC Group. Eldeco said that with this third round of funding in three years, the joint platform size reached Rs 850 crore. The platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crore. Out of this, projects with estimated revenue of Rs 2,000 crore have already been launched in Panipat, Sonipat, Rishikesh and Kasauli.
