HDFC Capital to invest Rs 1.5 Bn with Eldeco for small-town homes
SMART CITIES

HDFC Capital to invest Rs 1.5 Bn with Eldeco for small-town homes

Betting big on the housing demand in smaller Indian cities, HDFC Capital will invest Rs 15 billion in a new platform with Eldeco Group to develop 18 residential projects across tier-II and tier-III towns, with an estimated revenue potential of Rs 110 billion.

HDFC Capital Advisors Ltd, the real estate private equity arm of the HDFC Group, has partnered with Delhi-based Eldeco Group to launch this development platform, targeting towns across Haryana, Punjab, Himachal Pradesh, and Uttarakhand.

The combined development area across these 18 projects is expected to exceed 10 million square feet.

“We will be infusing Rs 15 billion in this joint platform with Eldeco Group,” said Vipul Roongta, Managing Director and CEO, HDFC Capital.

Only last month, HDFC Capital invested Rs 13 billion in a similar platform with Total Environment to develop housing projects worth Rs 100 billion in Bengaluru.

Speaking on the Eldeco partnership, Roongta said, “We are bullish on the potential of tier-II and tier-III towns located within 300 km of major metropolitan centres. Our partnership with Eldeco aligns with our long-term vision of catalysing the development of sustainable, aspirational housing for India’s expanding middle class.”

He added that ongoing infrastructure upgrades in these regions are effectively bringing smaller towns closer to urban economic hubs.

The projects will be located in cities such as Panipat and Sonipat in Haryana; Rudrapur and Rishikesh in Uttarakhand; Ludhiana in Punjab; and Kasauli in Himachal Pradesh.

“Eldeco has a strong track record of township development in non-metro markets, and we’re excited to partner with them,” Roongta added.

Pankaj Bajaj, Chairman and Managing Director, Eldeco Group, noted, “This investment allows us to accelerate expansion into high-growth markets that are increasingly integrated with India’s economic mainstream. There is a significant unmet demand for quality housing in tier-II and III cities.”

The platform has been launched with Eldeco Infrastructure & Properties Ltd (EIPL), the unlisted entity of the Eldeco Group. The listed arm, Eldeco Housing & Industries Ltd, operates primarily in the Lucknow market under a brand licence from EIPL.

HDFC Capital, a subsidiary of HDFC Bank, manages four SEBI-registered Category II Alternative Investment Funds. Collectively, these funds represent a USD 4.2 billion platform focused on affordable and mid-income housing development in India.

Aligned with the Government of India’s 'Housing for All' initiative, HDFC Capital is also promoting innovation and technology adoption in the real estate sector.

Eldeco Group has delivered over 200 real estate projects, with more than 60 million sq ft of constructed space across the country.

Betting big on the housing demand in smaller Indian cities, HDFC Capital will invest Rs 15 billion in a new platform with Eldeco Group to develop 18 residential projects across tier-II and tier-III towns, with an estimated revenue potential of Rs 110 billion. HDFC Capital Advisors Ltd, the real estate private equity arm of the HDFC Group, has partnered with Delhi-based Eldeco Group to launch this development platform, targeting towns across Haryana, Punjab, Himachal Pradesh, and Uttarakhand. The combined development area across these 18 projects is expected to exceed 10 million square feet. “We will be infusing Rs 15 billion in this joint platform with Eldeco Group,” said Vipul Roongta, Managing Director and CEO, HDFC Capital. Only last month, HDFC Capital invested Rs 13 billion in a similar platform with Total Environment to develop housing projects worth Rs 100 billion in Bengaluru. Speaking on the Eldeco partnership, Roongta said, “We are bullish on the potential of tier-II and tier-III towns located within 300 km of major metropolitan centres. Our partnership with Eldeco aligns with our long-term vision of catalysing the development of sustainable, aspirational housing for India’s expanding middle class.” He added that ongoing infrastructure upgrades in these regions are effectively bringing smaller towns closer to urban economic hubs. The projects will be located in cities such as Panipat and Sonipat in Haryana; Rudrapur and Rishikesh in Uttarakhand; Ludhiana in Punjab; and Kasauli in Himachal Pradesh. “Eldeco has a strong track record of township development in non-metro markets, and we’re excited to partner with them,” Roongta added. Pankaj Bajaj, Chairman and Managing Director, Eldeco Group, noted, “This investment allows us to accelerate expansion into high-growth markets that are increasingly integrated with India’s economic mainstream. There is a significant unmet demand for quality housing in tier-II and III cities.” The platform has been launched with Eldeco Infrastructure & Properties Ltd (EIPL), the unlisted entity of the Eldeco Group. The listed arm, Eldeco Housing & Industries Ltd, operates primarily in the Lucknow market under a brand licence from EIPL. HDFC Capital, a subsidiary of HDFC Bank, manages four SEBI-registered Category II Alternative Investment Funds. Collectively, these funds represent a USD 4.2 billion platform focused on affordable and mid-income housing development in India. Aligned with the Government of India’s 'Housing for All' initiative, HDFC Capital is also promoting innovation and technology adoption in the real estate sector. Eldeco Group has delivered over 200 real estate projects, with more than 60 million sq ft of constructed space across the country.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?