Elan Group seals Rs 1,200 crore from Kotak Real Estate Fund for Expansion

Gurugram-based Elan Group secures an investment of Rs.1, 200 crore from Kotak Real Estate Fund. As per the company statement, the funds are planning to be utilize as growth capital.

Aakash Kapoor, Director of Elan Group, says that,’’ This investment marks a pivotal moment in our growth journey, enabling us to strengthen our footprint in Gurugram’s real estate market. With this financial boost, we will continue to build on our success and deliver exceptional real estate experiences’’.

Kotak Real Estate Fund, an alternative real estate investment management practice of Kotak Alternate Asset Managers (Kotak Alts), has since its inception in 2005 rose over $ 3.5 billion across multiple Real Estate Funds focusing on diverse real estate asset classes such as residential, office, retail, hospitality, warehousing, and so on.

According to Sandeep Agarwal,CFO of Elan Group, says that, “This strategic investment from Kotak Real Estate Fund reinforces our commitment to delivering world-class residential, commercial and hospitality projects. With this financial backing, we are well-positioned to fast-track our ongoing projects and embark on new, innovative developments that will further elevate the quality and scale of our offerings’’.

As Vikas Chimakurthy, CEO, Kotak Real Estate Fund ,delivers that,’’ we are delighted to partner with Elan Group, a company that has demonstrated tremendous growth and market potential”.

Previously, Elan Group has been awarded two construction contracts worth approximately 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 luxury commercial project, Elan Imperial in Sector 82, Gurugram.