HDFC Capital and DivyaSree set up ₹1,500 crore residential platform

According to a Business Standard report, HDFC Capital has joined hands with realty firm DivyaSree Developers to raise a ₹1,500 crore fund. In a statement released on Monday, Bengaluru-based DivyaSree Developers stated that they have partnered with HDFC Capital Advisors Limited to set up this residential platform in India.

This partnership will provide growth capital to support DivyaSree in acquiring and developing residential projects with a potential revenue of ₹6,750 crore over the next 3 to 4 years. All these projects will be developed in the cities of Bengaluru, Hyderabad and Chennai.

Regarding this, HDFC Capital Managing Director and CEO Vipul Roongta stated that India's residential real estate sector continues to offer strong opportunities for institutionally-backed growth due to the sustained demand for high-quality housing in urban markets. He added that DivyaSree Developers has a strong track record in real estate development, deep market understanding and a commitment to quality execution.

Vipul Roongta further stated that the main objective through this partnership is to support the creation of a scalable pipeline of residential projects. DivyaSree Developers Chairman and CEO Bhaskar N. Raju stated that this platform will help the company realize its vision of expanding its residential business.

Bhaskar N. Raju added that this partnership with HDFC Capital demonstrates ambition and confidence in the growth planned for DivyaSree in the coming years. DivyaSree Developers is one of the leading real estate firms in South India.

Established in the year 1975, DivyaSree has a diversified portfolio in commercial, residential, asset management, hospitality, co-living and education sectors. Approximately 3 crore square feet of real estate has been constructed by this group so far.

HDFC Capital, a subsidiary of HDFC Bank Limited, is the real estate private equity arm of the HDFC Group. HDFC Capital's primary focus is on providing financial assistance for the development of affordable and mid-income housing.