PE-RE Fund Investments
HDFC Capital sets up Rs.1,000-Cr platform with Hero Realty
HDFC Capital Advisors , the real estate private equity arm of HDFC Group and a subsidiary of HDFC Bank, has set up an INR 1,000 crore platform jointly with Delhi-based Hero Realty , the real estate arm of Hero Enterprise. This collaboration aims to develop housing projects in Tier 1 and Tier 2 cities across India.Founded in 2006, Hero Realty has delivered over 8.4 mn sq ft of residential developments and 200 acres of industrial parks. The company has 5 projects under development with 6.4 mn sq ft of potential. An additional 8.0 mn sq ft across 5 projects is in the pipeline.HDFC Capital is the investment manager for four Category II alternative investment funds, which collectively form a USD 4.5 Billion platform for affordable and mid-income housing development in India. Its prior investments include INR 1,150 crore with Provident Housing, INR 1,500 crore with Eldeco, INR 1,300 crore with Total Environment, INR 1,150 crore with Runwal Enterprises, and INR 1,450 crore with Kalpataru.
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