HDFC Capital Earns Rs 298 Crore Return Exiting Total Environment Project in Bengaluru

    Date:

    Share post:

    HDFC Capital, a part of HDFC Bank Ltd, recently made a profitable exit from a Total Environment project in Bangalore, earning nearly Rs 300 crore.

    The investment arm had initially put in Rs 229 crore into a residential project located in Whitefield, Bangalore, known as “Pursuit of a Radical Rhapsody.” This project included the development of 1 million square feet of residential apartments, along with 4.4 million square feet of residential and 500,000 square feet of commercial space.

    Total Environment, a well-known developer in Bangalore, saw a rise in demand for its projects after the pandemic. This led to significant value creation, resulting in HDFC Capital’s exit and a return of Rs 527 crore.

    In the fiscal year 2023-24, Total Environment also returned Rs 250 crore from other investments made by HDFC Capital.

    Kunal Wadhwani, Principal Investments at HDFC Capital, emphasized the importance of partnering with reputable developers like Total Environment, known for their quality and timely delivery of projects.

    Founded in 1996, Total Environment has a track record of delivering 5.5 million square feet of residential and commercial space, with 14 million square feet currently under construction.

    HDFC Capital manages four SEBI-registered Category II Alternative Investment Funds, focusing on affordable and mid-income housing development in India, with a combined platform worth US$ 3 billion.

    Related Posts

    Latest posts

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...

    Commercial Integration – Reshaping India’s Residential Landscape

    - by Akash Pharande, Managing Director - Pharande Spaces One important feature changing how people live and work in India's fast urbanizing terrain is the...