HDFC, HDFC Life insurance acquire stake in real estate business accelerator Xanadu

Mortgage lender Housing Development Finance Corporation (HDFC) and its subsidiary HDFC Life Insurance Company have acquired a significant minority stake in a Mumbai-based real estate business accelerator firm Xanadu Realty. Xanadu helps realty developers in a turnaround of their real estate portfolio. It has developed and executed end-to-end strategy for product, design, marketing, and sales for developers. The investment values the firm at around INR 1,000 crore pre-money and is expected to support the firm's strategic expansion initiatives and in developing proprietary tech platforms. Mumbai-based real estate focused Investment Bank Trustcap acted as the sole financial advisor to the transaction between HDFC Group and Xanadu Realty.