+
HDFC Capital, Arvind SmartSpaces to create Rs 50 bn revenue potential
Real Estate

HDFC Capital, Arvind SmartSpaces to create Rs 50 bn revenue potential

The joint real estate investment and development platform of HDFC Capital Advisors, a wholly-owned subsidiary of India’s largest mortgage lender Housing Development Finance Corporation (HDFC), and realty developer Arvind SmartSpaces is expected to create overall revenue potential of Rs 50 billion, excluding reinvestment prospects.

Realty developer Arvind, part of the Ahmedabad-headquartered Lalbhai Group, entered into an agreement with HDFC Capital Advisors earlier this month to set up a Rs 9 billion platform to undertake residential developments.

HDFC Capital Affordable Real Estate Fund-3 (HCARE-3) will invest Rs 6 billion, while Arvind SmartSpaces will infuse Rs 3 billion crore in this joint investment and development platform.

“Our partnership with Arvind SmartSpaces will focus on the development of high-quality housing. This is in line with HDFC Capital's strategy of partnering with developers with a strong track record of development and delivery. The platform will create an overall revenue potential of up to Rs 5,000 crore excluding reinvestment potential,” said Vipul Roongta, MD & CEO, HDFC Capital Advisors.

The funds invested by both the partners will be utilised for construction and development of housing projects and townships mainly in the cities of Ahmedabad, Bangalore, Gandhinagar, Mehsana, Hyderabad, Pune and Mumbai Metropolitan Region (MMR) or any other geography as may be decided mutually by them.

See also:
Omaxe gets 50.40 acres land for sports complex at Dwarka
Maharashtra likely to invite fresh bids for Dharavi redevelopment


The joint real estate investment and development platform of HDFC Capital Advisors, a wholly-owned subsidiary of India’s largest mortgage lender Housing Development Finance Corporation (HDFC), and realty developer Arvind SmartSpaces is expected to create overall revenue potential of Rs 50 billion, excluding reinvestment prospects. Realty developer Arvind, part of the Ahmedabad-headquartered Lalbhai Group, entered into an agreement with HDFC Capital Advisors earlier this month to set up a Rs 9 billion platform to undertake residential developments. HDFC Capital Affordable Real Estate Fund-3 (HCARE-3) will invest Rs 6 billion, while Arvind SmartSpaces will infuse Rs 3 billion crore in this joint investment and development platform. “Our partnership with Arvind SmartSpaces will focus on the development of high-quality housing. This is in line with HDFC Capital's strategy of partnering with developers with a strong track record of development and delivery. The platform will create an overall revenue potential of up to Rs 5,000 crore excluding reinvestment potential,” said Vipul Roongta, MD & CEO, HDFC Capital Advisors. The funds invested by both the partners will be utilised for construction and development of housing projects and townships mainly in the cities of Ahmedabad, Bangalore, Gandhinagar, Mehsana, Hyderabad, Pune and Mumbai Metropolitan Region (MMR) or any other geography as may be decided mutually by them. See also: Omaxe gets 50.40 acres land for sports complex at DwarkaMaharashtra likely to invite fresh bids for Dharavi redevelopment

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Syrma SGS Elemaster Opens High-Reliability Electronics Facility

Syrma SGS Technology and Elemaster Group have inaugurated a new high-reliability electronics manufacturing facility in Bengaluru through their joint venture, Syrma SGS Elemaster Private Limited.The facility aims to strengthen India’s advanced electronics manufacturing capabilities and support customers across domestic and global markets, particularly in sectors requiring high quality, reliability and stringent manufacturing standards.Located in the Bommasandra Industrial Area, the 20,000 sq. ft. facility is equipped with advanced Surface Mount Technology (SMT), Through-Hole Technology (THT) ..

Next Story
Real Estate

UrbanVault Expands Chennai Workspace Portfolio with 100,000 Sq. Ft.

UrbanVault has expanded into Chennai with approximately 100,000 sq. ft. of managed workspace across three properties, strengthening its presence in India’s flexible workspace market.The company’s Chennai portfolio includes Olympia Teknos and UV IPL in Guindy, and Ceebros Chambers on Velachery Main Road. The expansion marks UrbanVault’s entry into its seventh city, taking its national footprint to more than 3 million sq. ft. across 80+ centres.UrbanVault expects its annual revenue to cross Rs 350 crore in FY27, supported by expansion across major business hubs and rising demand for manage..

Next Story
Real Estate

LML Realty Launches Digital Platform for Custom Factories

LML Realty has launched ‘Your Factory’, a digital platform that enables businesses to configure, customise and order built-to-suit factories online. The platform combines plot selection, factory specifications, pricing and development into a single digital interface.Businesses can select plot sizes ranging from 500 sq. yd. to 10 acres and customise requirements such as factory size, height, structure, crane provisions and power needs. The platform provides instant quotations, allowing users to view configurations and pricing while designing their facilities.Pricing for the built-to-suit fa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code