HDFC Capital and DivyaSree Developers set up a ₹1,500 crore platform to build residential projects. The partnership will support development in Bengaluru, Hyderabad and Chennai over the next three to four years. Vipul Roongta said, "India's residential real estate sector continues to offer strong opportunities for institutionally backed development."
The projects would be developed in Bengaluru, Hyderabad and Chennai | Image: Bloomberg
HDFC Capital has partnered with realty firm DivyaSree Developers to set up a ₹1,500 crore platform for building residential projects.
In a statement on Monday, Bengaluru-based DivyaSree Developers said it has partnered with HDFC Capital Advisors Ltd to "establish an ₹1,500 crore residential platform in India." The partnership will provide DivyaSree growth capital to support the acquisition and development of residential projects over the next three to four years with the potential revenue of ₹6,750 crore.
The projects would be developed in Bengaluru, Hyderabad and Chennai. Vipul Roongta, Managing Director and CEO, HDFC Capital, said, "India's residential real estate sector continues to offer strong opportunities for institutionally backed development, supported by sustained demand for high-quality housing across urban markets." DivyaSree Developers has a strong track record in real estate development, deep market understanding and a commitment to quality execution, he added.
Through this partnership, Roongta said the aim is to support the creation of a scalable pipeline of residential projects.
Bhaskar N Raju, Chairman and CEO, DivyaSree Developers, said the platform would help the company in realizing its vision to expand residential business.
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"This partnership with HDFC Capital reflects that ambition and the confidence in the growth we have planned for DivyaSree in the years ahead," he added.
DivyaSree Developers is one of South India's leading realty firms. Founded in 1975, DivyaSree has a diversified portfolio spanning commercial, residential, asset management, hospitality, co-living and education.
The Group has delivered about 30 million sq ft of real estate so far.
HDFC Capital, a subsidiary of HDFC Bank Ltd, is the real estate private equity arm of the HDFC Group.
HDFC Capital is focused on financing the development of affordable and mid-income homes.
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