“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,” said Akash Kapoor, Director, Elan Group.

In 2022, the company had raised $110 (Rs 1,000 crore) from global alternative investment firm PAG.

“This strategic investment from Kotak Real Estate Fund reinforces our commitment to delivering world-class residential, commercial and hospitality projects. With this financial support, we are well positioned to accelerate our ongoing projects and embark on innovative new developments that will further enhance the quality and scale of our offerings,” said Sandeep Agarwal, Chief Financial Officer, Elan Group.

Since its inception in 2005, Kotak Real Estate Fund has raised over US$3.5 billion across multiple real estate funds focused on various real estate asset classes such as residential, office, retail, hospitality and warehousing, among others.

“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. Earlier, Elan Group awarded two construction contracts worth 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 commercial project of luxury, Elan Imperial in Sector 82, Gurugram. “Dwarka Expressway is the most sought after destination in NCR and Elan Group has a large presence there. Projects launched in this region have seen significant price growth and are creating great value for both investors and home buyers,” said Shauzab Kazmi, director at real estate consultancy firm Moneytree Realty.

Elan Group’s portfolio consists of 15 projects comprising residential, commercial, commercial and hospitality projects. These projects span Gurugram and New Delhi, offering a built-up area of ​​approximately 25 million square feet. In 2022, the Group has entered the luxury residential segment with the launch of Elan Presidential in Sector 106, Dwarka Expressway.

Spread over 30 acres, the project will have around 2,000 super luxury residences (3, 4, 5 BHK and Duplex Penthouses) ranging from Rs 5 to 15 crore.