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Eldeco Infrastructure and Properties Ltd. has acquired a 20,000 sq metre plot near the upcoming Jewar Airport for INR 96.86 crore through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA). Purvanchal Projects also secured a 40,000 sq metre plot for INR 149.47 crore. These strategic moves aim to capitalise on the anticipated development rise around the new aviation hub. Eldeco's expansion continues with acquisitions in Gurugram, including 11.2 acres in Sector 80 for INR 275 crore. The company's extensive portfolio spans the NCR and other key locations like Sonepat and Greater Noida West. Recent funding of INR 350 crore from HDFC Capital Advisors bolsters Eldeco's growth prospects.
Eldeco Infrastructure and Properties Ltd., a real estate powerhouse, is making a land grab in the National Capital Region (NCR), with a strategic focus on the upcoming Jewar Airport. The company recently secured a 20,000 sq metre plot near the airport for INR 96.86 crore through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA). This aggressive move signals Eldeco's intent to capitalise on the billions in development expected around the new aviation hub. Advertisement
Eldeco isn't the only one betting big on Jewar. The area is witnessing a land rush, with another Noida developer, Purvanchal Projects, acquiring a 40,000 sq metre plot for a similar project, valued at INR 149.47 crore. Both companies plan to develop high-rise residential projects, catering to the future demand for modern living spaces near the airport. Analysts predict this area will become a major residential and commercial hub, attracting not just residents but businesses as well.
Eldeco's land acquisition spree isn't limited to Jewar. The company has been actively expanding its footprint across the NCR, strategically picking up prime locations. In Gurugram's Sector 80 alone, they've acquired a combined 11.2 acres of land for a total of INR 275 crore (INR 110 crore for 2.7 acres and INR 165 crore for 8.5 acres). These land purchases showcase Eldeco's commitment to developing a diverse portfolio across key NCR locations, catering to a wide range of customer segments.
Eldeco's ambitions extend far beyond the NCR. They have land parcels in Sonepat for plotted and villa developments, and a significant 36,000 sq metre plot in Greater Noida West earmarked for a residential project with an estimated investment of INR 250 crore. Additionally, they boast ongoing projects in Delhi, Ludhiana, Sonipat, Goa, and other locations. This pan-India presence, with a strong focus on residential development, underscores Eldeco's well-rounded approach to the real estate market.
Eldeco's recent land acquisitions are fueled by a healthy financial war chest. The company recently secured a massive INR 350 crore in funding from HDFC Capital Advisors Limited for their joint platform focused on residential projects across India. This marks the third round of funding for the platform in as many years, bringing the total corpus to a staggering INR 850 crore. With this kind of financial backing, Eldeco is well-positioned to not only execute their current projects but also explore exciting new opportunities.
Eldeco's strategic land acquisitions, focus on residential development across the NCR and other key locations, and diversified portfolio across India position them to become a major player in the development boom around Jewar Airport. Their strong financial backing further strengthens their position for continued growth and success in the years to come. With billions in development expected around Jewar, Eldeco appears to be ready for takeoff.
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