Eldeco Group Raises INR 275 Cr From Tata Capital Housing Finance Ltd. The capital raised will enable Eldeco Group to fast-track the construction of the two projects and also pave the way for an exit to its existing investors

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

Real estate developer in North India, Eldeco Group, on Thursday announced to have raised INR 275 crore in debt from Tata Capital Housing Finance Ltd (TCHFL), a wholly-owned subsidiary of Tata Capital Ltd.

Eldeco Group plans to deploy the capital raised in mid-income residential projects in Delhi NCR.

The capital raised will enable Eldeco Group to fast-track the construction of the two projects and also pave the way for an exit to its existing investors.

"We are delighted to partner with TCHFL. Apart from tier-II towns of North India, the NCR is a major growth area for us. After the pandemic, the demand in housing has recovered and we are seeing good sales across our portfolio. Our focus is to expand our projects across North India and provide quality housing to the mid-income segment," said Pankaj Bajaj, managing director, Eldeco Group.

Eldeco Group has so far delivered 175 projects with approximately 30 million square feet of real estate development. The fund infused by TCHFL will focus on Eldeco's 2 residential mid-income projects in the NCR. Both the projects have been launched and are currently under construction. The first project is a 2.1 million square feet project in Noida and the second one is a 1.2 million square feet project in Sohna, Gurugram. Eldeco Group has currently invested INR 175 crore in both projects.

"This partnership gives us a great opportunity to serve our customers in NCR markets. We believe that this is a great time to buy a house or leverage real estate assets by using our attractive finance solutions that are tailor-made for our customer's specific requirements. TCHFL offers customized mortgage solutions for both retail customers and developers across the country," added Anil Kaul, managing director, Tata Capital Housing Finance Limited.

The two projects together have an estimated revenue potential of INR 1650 crore which is targeted over the next 4 years.

Prabhjeet Bhatla

Former Staff

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'I Want the Best People on Our Teams': Meta Is Laying Off More Than 3,000, CEO Mark Zuckerberg Calls for 'Extensive Performance-Based Cuts' — Read the Memo

In an internal memo shared on Tuesday, Zuckerberg said it's "going to be an intense year" at the company.

Growing a Business

How Meta Generated $32 Billion in Ad Revenue Last Quarter — and How You Can Create Million-Dollar Weekends Using the Same Strategies

Meta's staggering $32 billion quarterly ad revenue isn't just about size; it's about strategy, systems and execution as well.

Growing a Business

5 Risk-Taking Lessons From Founders Who Bet Big and Won

Discover the bold moves and strategic risks that catapulted these entrepreneurs to success. Learn how their fearless decisions can inspire your own path to growth.

Technology

Why 2025 Will Be a Breakthrough Year for MSMEs in India's Digital Revolution

With the convergence of AI, cloud ecosystems, enhanced connectivity, and ethical data practices, 2025 represents a pivotal year for MSMEs in the digital sector. To remain competitive, MSMEs must embrace these technologies while fostering innovation and strategically aligning their operations with emerging trends.