Elan Group has raised an investment of Rs 1,200 crore from Kotak Real Estate Fund, an alternative real estate investment management practice of Kotak Alternate Asset Managers.
The investment will be utilized as growth capital and strengthen its presence in Gurugram. Akash Kapoor, director of the company said, “This investment marks a pivotal moment in our growth journey, enabling us to strengthen our footprint in Gurugram’s real estate market.”
Since its start in 2005, Kotak Real Estate Fund has raised over $3.5 billion across multiple real estate funds.
Elan Group previously awarded two construction contracts worth about Rs 2,000 crore to Leighton Asia for the construction of its residential project, Elan The Presidential in Sector 106, Dwarka Expressway and Elan Imperial in Sector 82, Gurugram.
