Elan Group Raises Rs. 250 Cr from Piramal for Gurgaon Project

Gurgaon-based real estate developer Elan Group has raised Rs. 250 crore from Piramal Finance to accelerate the construction of a major commercial project spanning over one million sq ft in the city.

The funding underscores continued investor confidence in Elan’s growing high-value real estate portfolio. The latest funding follows a Rs. 1,200 crore investment from Kotak Real Estate Fund in 2023 and a Rs. 900 crore raise from global investment firm PAG in 2022, highlighting a sustained capital inflow into Elan’s ambitious development pipeline.

Key Highlights

• Elan Group raises Rs. 250 crore from Piramal Finance for a 1M sq ft project
• Follows Rs. 1,200 Cr from Kotak and Rs. 900 Cr from PAG in recent years
• Awards Rs. 2,000 Cr contracts to Leighton Asia for luxury projects in Gurgaon

While Elan has not made an official statement, CBRE reportedly advised the transaction. The financial injection will help speed up project timelines across the group’s expansive portfolio, which includes 15 developments across residential, commercial, retail, and hospitality, covering 25 million sq ft in Gurgaon and New Delhi.

Elan recently awarded Rs. 2,000 crore worth of contracts to Leighton Asia for its luxury projects — Elan The Presidential in Sector 106 (Dwarka Expressway) and Elan Imperial in Sector 82. These projects cement the group's entry into the luxury residential segment, which began in 2022 with the launch of The Presidential.

Also Read: Elan group awards Rs. 1,100 cr Gurugram project to Leighton Asia

With diversified capital backing and marquee collaborations, Elan Group is fast becoming a key player in Gurgaon’s commercial and luxury real estate landscape.