HDFC Capital, Runwal Enterprises in pact to set up Rs 1,150 cr residential platform
HDFC Capital, the real estate private equity arm of HDFC Group, has entered a partnership with realty developer Runwal Enterprises to set up a platform focused on the development of residential projects for affordable, mid-income and upper mid-income families.
As per the terms of the agreement, HDFC Capital will be investing over Rs 1,150 crore to support the development of multiple sustainable housing projects across the country’s commercial capital.
The portfolio of projects to be developed through this partnership is estimated to generate a revenue potential over $1 billion.
“HDFC Capital is committed to forging long-term partnerships with leading developers like the Runwal Group, with a proven track record of development and delivery. Through this collaboration, we aim to address the growing demand for sustainable, high-quality homes for affordable and middle-income families in India,” Vipul Roongta, Managing Director & CEO, HDFC Capital, told ET.
HDFC Capital managed funds will provide a combination of equity and structured debt to Subodh Runwal-promoted Runwal Enterprises, formerly known as Runwal Apartments under this strategic funding arrangement.
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