Eldeco and Purvanchal Noida Secure Prime Land Near Jewar Airport, Eye High-Rise Development

Eldeco Infrastructure and Properties Ltd and Purvanchal Projects have made significant strides in Noida's booming real estate market. Eldeco acquired a 20,000 sq metre plot for INR 96.86 crore, while Purvanchal purchased a 40,000 sq metre parcel for INR 149.47 crore. Both land deals were secured through auctions conducted by the Yamuna Expressway Industrial Development Authority (YEIDA) and will be developed into group housing projects, emphasizing high-rise developments.

Eldeco's Expanding Real Estate Portfolio

Eldeco's strategic land acquisitions extend beyond Noida. The company recently purchased 2.7 acres in Gurugram's Sector 80 for INR 110 crore and 8.5 acres for INR 165 crore via auctions by the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). Additionally, a 36,000 sq metre plot in Greater Noida West will be transformed into 750,000 sq ft of residential space with a INR 250 crore investment.

Plotted and Villa Development in Sonipat

Furthering its diversification, Eldeco has acquired 14.5-acre and 18-acre plots in Sonipat for plotted and villa developments. These projects align with the company's vision of catering to premium housing demands in emerging markets.

Financial Backing and Ambitious Expansion Plans

Eldeco recently secured INR 350 crore in funding from HDFC Capital Advisors Limited, marking the third round of investment in three years. This partnership now boasts a corpus of INR 850 crore and aims to generate INR 8,000 crore from 17 residential projects nationwide. Earlier funding rounds of INR 150 crore in 2021 and INR 350 crore in 2022 were directed toward projects in holiday destinations and tier-2 cities.

Track Record and Future Pipeline

The Eldeco Group has an impressive legacy of delivering 200 projects encompassing 30 million sq ft of real estate. Currently, 30 projects totaling 35 million sq ft are underway, with developments planned in key locations like Delhi, Gurugram, Ludhiana, Sonipat, and Goa. The group has already deployed INR 500 crore into residential projects in cities such as Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West), and Gurugram.

Key Highlights

• Prime Land Acquisitions: Eldeco secured a 20,000 sq metre plot in Noida for INR 96.86 crore, and Purvanchal acquired 40,000 sq metres for INR 149.47 crore near Jewar Airport.
• Diverse Portfolio Expansion: Eldeco invests in Greater Noida, Gurugram, and Sonipat, targeting high-rise, plotted, and villa developments.
• Funding Milestone: INR 350 crore secured from HDFC Capital; corpus now INR 850 crore with plans to generate INR 8,000 crore from 17 projects.
• Proven Track Record: Delivered 200 projects (30 million sq ft); 30 ongoing projects (35 million sq ft).
• Strategic Locations: Investments in key areas like Delhi NCR, Ludhiana, Goa, and holiday destinations.

This surge in land acquisitions and funding highlights Eldeco and Purvanchal's commitment to strengthening their foothold in Noida's real estate market, particularly around the strategically significant Jewar Airport corridor.

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