HDFC Capital to set up platform worth Rs 1000 cr
Real Estate

HDFC Capital to set up platform worth Rs 1000 cr

The real estate division of TVS Motor Company, Emerald Haven Realty Ltd (TVS Emerald), has agreed to a term sheet with HDFC Capital Affordable Real Estate Fund-3 to establish a platform worth Rs. 1000 crore for projected development projects in Chennai and Bengaluru.

According to a news release from TVS Emerald's President and CEO, Sriram Iyer, the company has been developing and completing projects in Chennai for nearly 10 years. With the recent launch of TVS Emerald Jardin and many additional land purchases, the company has also joined the Bangalore market. “This is a strategic tie-up to grow our plotted development portfolio in the south markets.”

HDFC Capital, a division of Housing Development Finance Corporation Ltd., is the investment manager for the SEBI-registered Category II Alternative Investment Funds HDFC Capital Affordable Real Estate Fund 1, HDFC Capital Affordable Real Estate Fund 2, and HDFC Capital Affordable Real Estate Fund 3 Schemes 1 & 2. Together, these funds total $ 3.1 billion, which will be used to build inexpensive and middle-income housing in India.

According to Vipul Roongta, MD & CEO of HDFC Capital Advisors Limited, the company will continue to focus on satisfying the rising demand for plotted developments at reasonable costs through this platform with TVS Emerald.

See also:
HDFC Capital garners $376 million for affordable projects
HDFC Capital invests Rs 15.50 bn in SP Real Estate projects


The real estate division of TVS Motor Company, Emerald Haven Realty Ltd (TVS Emerald), has agreed to a term sheet with HDFC Capital Affordable Real Estate Fund-3 to establish a platform worth Rs. 1000 crore for projected development projects in Chennai and Bengaluru. According to a news release from TVS Emerald's President and CEO, Sriram Iyer, the company has been developing and completing projects in Chennai for nearly 10 years. With the recent launch of TVS Emerald Jardin and many additional land purchases, the company has also joined the Bangalore market. “This is a strategic tie-up to grow our plotted development portfolio in the south markets.” HDFC Capital, a division of Housing Development Finance Corporation Ltd., is the investment manager for the SEBI-registered Category II Alternative Investment Funds HDFC Capital Affordable Real Estate Fund 1, HDFC Capital Affordable Real Estate Fund 2, and HDFC Capital Affordable Real Estate Fund 3 Schemes 1 & 2. Together, these funds total $ 3.1 billion, which will be used to build inexpensive and middle-income housing in India. According to Vipul Roongta, MD & CEO of HDFC Capital Advisors Limited, the company will continue to focus on satisfying the rising demand for plotted developments at reasonable costs through this platform with TVS Emerald. See also: HDFC Capital garners $376 million for affordable projectsHDFC Capital invests Rs 15.50 bn in SP Real Estate projects

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?