New Delhi: Real estate company Elan Group has secured Rs 1,200 crore from Kotak Real Estate Fund to fuel its development and expansion plans. The money will be used as capital for growth, allowing the company to enhance its position in Gurugram's top real estate market, the Gurugram-based real estate group announced on Tuesday.
This investment represents a crucial milestone in our expansion plans, allowing us to enhance our presence in Gurugram's real estate sector. Akash Kapoor, Director of Elan Group, stated that they will use this increase in funds to further expand their achievements and provide outstanding real estate interactions while CFO Sandeep Agarwal said that this strategic investment affirms the company's dedication to providing top-notch residential, commercial, and hospitality projects.
According to reports, Sandeep Agarwal said, "With this support, we are in a good position to accelerate our current projects and start new and creative ventures to enhance the quality and reach of our products."
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He further stated that the injection of funds will enable them to explore new possibilities in design and construction, guaranteeing that their projects go beyond the expectations of clients.
Vikas Chimakurthy, CEO of Kotak Real Estate Fund, also shared his opinion on the matter. The CEO stated that they have teamed up with Elan Group, a company showing great growth and market prospects. Elan Group has recently given Leighton Asia two construction contracts totaling Rs 2,000 crore for Elan The Presidential in Sector 106, Dwarka Expressway, and Elan Imperial in Sector 82, Gurugram. The portfolio of Elan Group includes 15 projects across housing, retail, office, and hospitality sectors. Reports suggest these developments span Gurugram and New Delhi, providing a total built-up area of approximately 25 million square feet.
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