Key Takeaways
- • HDFC Capital Advisors Ltd and Bengaluru-based DivyaSree Developers have set up a ₹1,500 crore residential platform in India to acquire and develop housing projects.
- • The platform is expected to generate potential revenue of ₹6,750 crore over the next three to four years, according to DivyaSree's statement.
- • Projects will be developed in Bengaluru, Hyderabad and Chennai, with the capital providing DivyaSree growth funding for land acquisition and development.
- • HDFC Capital, a subsidiary of HDFC Bank and the real estate private equity arm of the HDFC Group, is focused on financing affordable and mid-income homes.
Summary
HDFC Capital has partnered with realty firm DivyaSree Developers to establish a ₹1,500 crore residential platform for building housing projects in India, according to a statement issued by DivyaSree on Monday and reported by Business Standard. 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, with potential revenue of ₹6,750 crore.
The projects will be located 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 added that the aim of the partnership is to support the creation of 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, describing the partnership as reflecting the company's ambition and confidence in its planned growth.
DivyaSree, founded in 1975, is one of South India's leading realty firms, with a diversified portfolio spanning commercial, residential, asset management, hospitality, co-living and education. The Group 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 projects will be located 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 added that the aim of the partnership is to support the creation of 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, describing the partnership as reflecting the company's ambition and confidence in its planned growth.
DivyaSree, founded in 1975, is one of South India's leading realty firms, with a diversified portfolio spanning commercial, residential, asset management, hospitality, co-living and education. The Group 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.
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