HDFC Capital Exits Total Environment Bangalore Project

06 May 2024 CW Team

HDFC Capital, a subsidiary of HDFC Bank Ltd and the real estate private equity arm of HDFC Group, has achieved a substantial exit from a Total Environment project in Bangalore, securing returns close to Rs 300 crore.

The investment, totaling Rs 229 crore, was directed towards a residential apartment project situated in Whitefield, Bangalore, under the name "Pursuit of a Radical Rhapsody." This venture encompassed the development of 1 million square feet of residential apartments along with 4.4 million square feet of residential and 500,000 square feet of commercial space.

Kamal Sagar, Founder of Total Environment, expressed, "This exit is a big milestone for all our stakeholders, having witnessed significant value creation, and we?re looking forward to creating further value for all our stakeholders through the ongoing investments by HDFC Capital."

Driven by the surge in demand for projects by esteemed developers post-pandemic, the Bangalore-based developer generated returns of Rs 527 crore, facilitating HDFC Capital's exit. Moreover, Total Environment has returned Rs 250 crore against other investments made by HDFC Capital in the fiscal year 2023-24.

Kunal Wadhwani, Principal Investments at HDFC Capital, remarked, "The successful exit of the equity investment highlights our strategy of partnering with top-rated developers with a good track record of development and delivery with a focus on high-quality homes in India."

Established in 1996, Total Environment has delivered 5.5 million square feet of residential and commercial space, with a total of 14 million square feet under construction presently.

HDFC Capital serves as the investment manager to four SEBI-registered Category II Alternative Investment Funds, collectively forming a US$ 3 billion platform targeting the development of affordable and mid-income housing in India.

Building Material

18 Sep 2025

Ambuja Cements Drags JSW Cement to Court Over ‘Kawach’ Brand

Ambuja Cements, part of the Adani Group, has filed a trademark infringement case against JSW Cement in the Delhi High Court, alleging that its rival copied the ‘Kawach’ brand with its new product ‘Jal Kavach’.Justice Manmeet Pritam Singh Arora issued summons to JSW Cement and its subsidiary, JSW IP Holdings Pvt Ltd, while referring the matter to mediation. Hearings are scheduled to resume on October 15 if no settlement is reached.Ambuja, which registered the ‘Kawach’ trademark in 2019, argues that the term ‘Kavach’—meaning shield—is the distinctive feature of its branding. ..

Bentley Systems Named Innovation Partner of the Year 2025 by Afcons

Bentley Systems, the infrastructure engineering software company, has been recognised by Afcons Infrastructure Limited as its Innovation Partner of the Year 2025 at the Innovation Partners 2025 Felicitation Ceremony in Mumbai. The award acknowledges Bentley’s contribution to Afcons’ engineering digitalisation journey through an enterprise agreement providing access to over 250 Bentley engineering software tools. This adoption has enabled Afcons to accelerate project delivery, standardise digital workflows, and strengthen innovation across its infrastructure portfolio. Among key i..

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..