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
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code