Eldeco and Purvanchal Purchase Land from Yamuna Authority for Rs 2.5 bn

15 Jul 2024 CW Team

Eldeco Infrastructure and Properties announced the acquisition of a 20,000 sq m land parcel near the upcoming Jewar airport in Noida. The land was purchased through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA) for Rs 960.86 million.

Similarly, Purvanchal Projects, another Noida-based developer, disclosed the acquisition of a 40,000 sq metre land for Rs 1.49 billion.

Both land parcels are designated for group housing projects, with plans for constructing high rises on the acquired properties.

Eldeco revealed recent acquisitions including 2.7 acre in Gurgaon Sector 80 for Rs 1.10 billion and 8.5 acre for Rs 1.65 billion, obtained through an auction by the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). Additionally, they secured a 36,000-square-metre plot in Greater Noida West, where they will develop 750,000 sq ft of residential space with an investment of Rs 2.50 billion.

Further expansions include the acquisition of 14.5-acre and 18-acre land parcels in Sonepat, earmarked for plotted and villa development. Funding for these initiatives includes Rs 3.50 billion from HDFC Capital Advisors Limited, marking the third round of funding in as many years and increasing the platform?s corpus to Rs 8.50 billion. Eldeco anticipates generating Rs 80 billion from 17 projects.

Previously, in August 2021, the platform had raised Rs 1.50 billion followed by another Rs 3.50 billion in September 2022, focusing on projects in holiday destinations and tier 2 cities.

Eldeco has strategic projects planned in Delhi, Gurugram, Ludhiana, Sonipat, and Goa, with Rs 5 billion allocated to residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West), and Gurugram.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..