PAG contributes Rs 425 billion to Elan group in Gurugram

30 Aug 2022 CW Team

The development of Elan’s upcoming projects will be funded by the Rs 4.25 billion investment from PAG, a global alternative investment firm. In order to grow its commercial real estate business and enter the luxury residential market, Gurugram-based Elan Group purchased two land parcels this year.

For Rs 5.80 billion in January, the group purchased a 40-acre plot of land in Gurugram from Indiabulls Real Estate Ltd (IBREL) for the purpose of developing residential and commercial projects. This month, for more than Rs 2 billion, it purchased another 7.65-acre prime commercial land parcel from the Ambience Group in Gurugram's Sector 82. Elan Ltd, the flagship company of Elan Group, stated in a statement that “PAG has invested over $50 million or Rs 4.25 billion in Elan”.

It was also stated that the investment would be used as growth capital for future projects.

“This deal assumes great significance for the Elan group with a global fund like PAG reposing confidence in the group’s management and established development track,” said Sandeep Agarwal, CEO, Eland group.

Elan Group has 12 projects in prime locations in Gurugram and New Delhi, totaling approximately 15 million square feet of saleable area.

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..