Key Takeaways
- • HDFC Capital Advisors Ltd and Bengaluru-based DivyaSree Developers have partnered to establish a Rs 1,500 crore residential platform in India, according to a statement issued by DivyaSree on Monday.
- • The platform will provide DivyaSree with growth capital over the next three to four years to fund the acquisition and development of residential projects in Bengaluru, Hyderabad and Chennai.
- • DivyaSree cites a potential revenue of Rs 6,750 crore from the platform.
- • HDFC Capital, the real estate private equity arm of the HDFC Group and a subsidiary of HDFC Bank Ltd, is focused on financing affordable and mid-income homes.
Summary
HDFC Capital and DivyaSree Developers have partnered to set up a Rs 1,500 crore residential platform, according to a PTI report datelined New Delhi, November 2. In a statement on Monday, DivyaSree said it had partnered with HDFC Capital Advisors Ltd to "establish an Rs 1,500 crore residential platform in India."
The partnership is structured to provide DivyaSree with growth capital to support the acquisition and development of residential projects over the next three to four years. The company cites a potential revenue of Rs 6,750 crore from the initiative. Projects will be developed in Bengaluru, Hyderabad and Chennai.
Vipul Roongta, Managing Director and CEO of HDFC Capital, said India's residential real estate sector "continues to offer strong opportunities for institutionally backed development, supported by sustained demand for high-quality housing across urban markets." He credited DivyaSree's track record, market understanding and commitment to quality execution, and said the aim is to build a scalable pipeline of residential projects. Bhaskar N Raju, Chairman and CEO of DivyaSree Developers, said the platform would help the company realize its vision to expand its residential business.
DivyaSree, founded in 1975, is one of South India's leading realty firms, with a portfolio spanning commercial, residential, asset management, hospitality, co-living and education. The group says it has delivered about 30 million sq ft of real estate to date.
HDFC Capital, a subsidiary of HDFC Bank Ltd, is the real estate private equity arm of the HDFC Group and focuses on financing the development of affordable and mid-income homes. The source material does not specify the equity split, fund structure or return targets for the platform.
The partnership is structured to provide DivyaSree with growth capital to support the acquisition and development of residential projects over the next three to four years. The company cites a potential revenue of Rs 6,750 crore from the initiative. Projects will be developed in Bengaluru, Hyderabad and Chennai.
Vipul Roongta, Managing Director and CEO of HDFC Capital, said India's residential real estate sector "continues to offer strong opportunities for institutionally backed development, supported by sustained demand for high-quality housing across urban markets." He credited DivyaSree's track record, market understanding and commitment to quality execution, and said the aim is to build a scalable pipeline of residential projects. Bhaskar N Raju, Chairman and CEO of DivyaSree Developers, said the platform would help the company realize its vision to expand its residential business.
DivyaSree, founded in 1975, is one of South India's leading realty firms, with a portfolio spanning commercial, residential, asset management, hospitality, co-living and education. The group says it has delivered about 30 million sq ft of real estate to date.
HDFC Capital, a subsidiary of HDFC Bank Ltd, is the real estate private equity arm of the HDFC Group and focuses on financing the development of affordable and mid-income homes. The source material does not specify the equity split, fund structure or return targets for the platform.
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