Gurugram-based Elan Group has secured an investment of ₹1,200 crore from Kotak Real Estate Fund. The funds are slated to be utilised as growth capital, as per a company statement.
“This investment marks a pivotal moment in our growth journey, enabling us to strengthen our footprint in Gurugram’s real estate market. With this financial boost, we will continue to build on our success and deliver exceptional real estate experiences,” said Akash Kapoor, Director, Elan Group.
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Kotak Real Estate Fund, an alternative real estate investment management practice of Kotak Alternate Asset Managers (Kotak Alts), has since its inception in 2005 raised over $ 3.5 billion across multiple Real Estate Funds focusing on diverse real estate asset classes such as residential, office, retail, hospitality, warehousing, and so on.
“This strategic investment from Kotak Real Estate Fund reinforces our commitment to delivering world-class residential, commercial and hospitality projects. With this financial backing, we are well-positioned to fast-track our ongoing projects and embark on new, innovative developments that will further elevate the quality and scale of our offerings,” said Sandeep Agarwal, CFO, Elan Group.
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“We are delighted to partner with Elan Group, a company that has demonstrated tremendous growth and market potential,” said Vikas Chimakurthy, CEO, Kotak Real Estate Fund.
More on company plans
Earlier, Elan Group awarded two construction contracts worth approximately ₹2,000 crore to Leighton Asia for the construction of its luxury residential project, Elan The Presidential in Sector 106, Dwarka Expressway and its new luxury commercial project, Elan Imperial in Sector 82, Gurugram.
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As per the company statement, Elan Group’s portfolio consists of 15 projects comprising residential, retail, commercial and hospitality developments. These projects are spread across Gurugram and New Delhi, offering a built-up area of approximately 25 million square feet.
In 2022, the Group ventured into the luxury residential segment with the launch of Elan Presidential in Sector 106, Dwarka Expressway.
