HDFC Capital invests Rs.1,500-Cr in realty platform with Eldeco for 18 residential projects

HDFC Capital Advisors Ltd, the real estate private equity arm of HDFC Group, has invested INR 1,500 crore in a property development platform in partnership with Delhi-based Eldeco Group (via Eldeco Infrastructure & Properties Ltd), which will develop 18 residential projects in Tier II-III towns.The total development area in these 18 projects will be more than 10 million (100 lakh) sq ft offering a combined revenue potential of about INR 11,000 crore.The towns where the projects will come up are: Panipat and Sonipat in Haryana; Rudrapur and Rishikesh (Uttarakhand); Ludhiana (Punjab); and Kasauli (Himachal Pradesh).Promoted by Pankaj Bajaj, Eldeco Group also operates the listed Eldeco Housing & Industries Ltd in the Lucknow market.