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

    Maharashtra to Publish Draft RR Rates Online for Public Feedback

    PUNE — In a first, the Maharashtra government has directed the registration department to publish proposed Ready Reckoner...

    India ranks third in global LEED green building certification for 2024

    India has retained its third-place ranking in the U.S. Green Building Council’s (USGBC) annual list of the top...

    Prestige Group Expanding Mall Portfolio with New Projects in Mumbai & Delhi-NCR

    Real estate developer Prestige Group is expanding its retail footprint with new mall projects in Mumbai and Delhi-NCR,...

    RBI Offers Nariman Point Plot to Expand Headquarters

    Mumbai – The Reserve Bank of India (RBI) has offered ₹2,650 crore to Mumbai Metro Rail Corporation Limited...