New Delhi, Oct 22 (PTI) Real estate firm Elan Group has raised Rs 1,200 crore from Kotak Real Estate Fund for its growth and expansion.

The fund will be used as growth capital, enabling the company to further strengthen its presence in the prime real estate market of Gurugram.

In a statement on Tuesday, Elan Group said it had “secured an investment of Rs 1,200 crore from Kotak Real Estate Fund”.

“This investment marks a pivotal moment in our growth journey, enabling us to strengthen our footprint in the Gurugram real estate market. With this financial boost, we will continue to build on our success and deliver exceptional real estate experiences,” Akash Kapoor, Director, Groupe Elan, said.

Sandeep Agarwal, Chief Financial Officer, Elan Group, said this strategic investment reinforces the company’s commitment to delivering world-class residential, commercial and hospitality projects.

“With this financial support, we are well placed to accelerate our current projects and embark on new and innovative developments that will further enhance the quality and scale of our offerings. The injection of capital will allow us to push the boundaries of design. and construction, ensuring that our projects not only meet but exceed our clients’ expectations,” added Agarwal.

Vikas Chimakurthy, CEO of Kotak Real Estate Fund, said the company has partnered with Elan Group, a company that has demonstrated considerable growth and market potential.

Recently, Elan Group awarded two construction contracts worth around Rs 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 project luxury commercial, Elan Imperial in Sector 82, Gurugram.

Elan Group’s portfolio consists of 15 projects in the housing, retail, office and hospitality segments. These projects span Gurugram and New Delhi, offering a built-up area of ​​approximately 25 million square feet.