Elan Group, a prominent real estate developer, has raised ₹1,200 crore from Kotak Real Estate Fund to support its growth and expansion in Gurugram’s real estate market.
In a statement, the company announced securing the investment, which will be directed toward strengthening its foothold in the region. This capital infusion is expected to provide the necessary momentum for ongoing and future projects, helping the company to broaden its portfolio.
“This investment is a significant milestone for us, as it allows us to enhance our presence in Gurugram’s prime real estate sector. We will leverage this financial support to continue delivering high-quality real estate developments,” said Akash Kapoor, Director of Elan Group.
Sandeep Agarwal, Chief Financial Officer of Elan Group, emphasized that this strategic partnership reinforces their commitment to providing exceptional residential, commercial, and hospitality projects. “With the backing of Kotak Real Estate Fund, we are in a strong position to accelerate our ongoing developments and launch new initiatives that will further elevate the quality of our offerings,” Agarwal added.
Vikas Chimakurthy, CEO of Kotak Real Estate Fund, noted the partnership with Elan Group, highlighting the company’s rapid growth and market potential.
Recently, Elan Group awarded contracts worth approximately ₹2,000 crore to Leighton Asia for two key developments: the luxury residential project “Elan The Presidential” on Dwarka Expressway, and a commercial project “Elan Imperial” in Gurugram.
Elan Group’s portfolio currently includes 15 projects across the residential, retail, office, and hospitality sectors, with a total built-up area of around 25 million square feet, primarily in Gurugram and New Delhi.
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By Proptechbuzz
By Ravi Kumar
