Eldeco, HDFC Capital infuse `350 crore in joint platform

New Delhi: Realty firm Eldeco Infrastructure and Properties Ltd and HDFC Capital Advisors have committed an additional Rs 350 crore in their joint platform to develop housing projects. In a statement, Eldeco announced the latest round of funding of Rs 350 crore towards their joint platform aimed at developing residential projects across India.

With this latest funding, the platform size stands at Rs 850 crore. With the first and second rounds of funding having been deployed, this third-round injection of Rs 350 crores will further accelerate the development of group housing and plotted development projects in multiple cities, namely Delhi, Gurugram, Ludhiana, Sonipat and Goa.

The platform has already deployed Rs 500 crore in residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West) and Gurugram. “The platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crores,” the statement said.