Elan Gets Rs 2.5 Bn From Piramal For Gurgaon Project
Real Estate

Elan Gets Rs 2.5 Bn From Piramal For Gurgaon Project

Gurgaon-based developer Elan Group has secured Rs 2.5 billion from Piramal Finance to accelerate the construction of a major commercial project spanning over one million square feet, sources familiar with the matter said.
This latest infusion follows a Rs 12 billion investment from Kotak Real Estate Fund in 2023, and Rs 9 billion raised in 2022 from global alternative investment firm PAG. These investments reflect Elan’s strong growth momentum in the region.
While Elan Group has not commented publicly, sources indicated that CBRE acted as the transaction advisor. The capital will help expedite timelines across Elan’s expanding portfolio, which includes 15 projects across residential, retail, commercial, and hospitality segments. Together, these developments amount to over 25 million square feet across Gurgaon and New Delhi.
Elan has also awarded construction contracts worth Rs 20 billion to Leighton Asia for two flagship luxury projects—Elan The Presidential, a residential development in Sector 106 on the Dwarka Expressway, and Elan Imperial, a commercial venture in Sector 82, Gurgaon.
The company entered the luxury residential market in 2022 with Elan The Presidential, further strengthening its presence in the premium real estate segment. 

Gurgaon-based developer Elan Group has secured Rs 2.5 billion from Piramal Finance to accelerate the construction of a major commercial project spanning over one million square feet, sources familiar with the matter said.This latest infusion follows a Rs 12 billion investment from Kotak Real Estate Fund in 2023, and Rs 9 billion raised in 2022 from global alternative investment firm PAG. These investments reflect Elan’s strong growth momentum in the region.While Elan Group has not commented publicly, sources indicated that CBRE acted as the transaction advisor. The capital will help expedite timelines across Elan’s expanding portfolio, which includes 15 projects across residential, retail, commercial, and hospitality segments. Together, these developments amount to over 25 million square feet across Gurgaon and New Delhi.Elan has also awarded construction contracts worth Rs 20 billion to Leighton Asia for two flagship luxury projects—Elan The Presidential, a residential development in Sector 106 on the Dwarka Expressway, and Elan Imperial, a commercial venture in Sector 82, Gurgaon.The company entered the luxury residential market in 2022 with Elan The Presidential, further strengthening its presence in the premium real estate segment. 

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code