ELV Projects Secures Rs. 105 Cr Funding for Bengaluru Housing

The Whitefield and East Bengaluru-based developer ELV Projects has raised funding of Rs. 105 crore in its residential project procured by Arbour Investments, a real-estate investment-management system.

ELV Cycles and RB Capital have joined hands and plan to finance two residential projects ELV Highgarden and ELV Kingsland in Whitefield. Arbour has already paid the first transaction of Rs. 20 crore. The company will use a milestone-based disbursement scheme and add the rest as the project progresses in the next eight to nine months.

• ELV Projects raises Rs. 105 crore from Arbour Investments for two residential projects in Whitefield, Bengaluru.
• Projects—ELV Highgarden and ELV Kingsland—span 11.73 lakh sq. ft. with 596 mid-premium units.
• Arbour targets mid-market to premium housing, with further Rs. 400 crore investment planned this fiscal.

The mid-premium venture has a total constructed area of 11.73 lakh square feet that consists of 596 two to four-bed residential units in five towers. The two projects are projected to be completed in October 2026. In the meantime, the Whitefield region witnessed a 60 per cent change in capital value since 2021 where prices have increased to Rs. 10,300 per sq ft in comparison to Rs. 6,400 per sq ft.

Priyesh Chheda, founder, Arbour Investments, said: “Our preferred segment is anywhere between mid-market and premium. We are not that keen on absolute luxury, because it requires a different approach in terms of sales and marketing and for the cash flows, and the same goes with affordable projects.”

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Arbour has completed around 22 transactions over the last three years and 10 months. “Out of these 22 transactions, the overall investments were roughly around Rs. 600 crore, of which 11 exits have already happened. Now we are looking at another three to four transactions in this particular financial year, with around Rs. 400 crore of further deployment,” Chheda added. 

In the case of its platform equity component, Arbour wants to deal with real estate projects within the Mumbai Metropolitan Region (MMR) solely. In its private equity unit, the company is looking at other markets such as Hyderabad and Chennai besides the MMR, Bengaluru and Goa.