HDFC Capital and DivyaSree Launch ₹1,500 Crore Residential Platform in India
HDFC Capital Advisors and DivyaSree Developers have come together to establish a ₹1,500 crore residential real estate platform. The partnership will support residential project acquisitions and new developments in India over the next three to four years.
The platform has a potential gross development value (GDV) of ₹6,750 crore. It will give DivyaSree access to capital for expanding its housing business and taking up new projects.
Two residential projects are already at the term-sheet stage. The companies expect to finalise the agreements within the next two to three months. Details of the projects will be announced separately once the agreements are completed.
The initial focus will be on Bengaluru, Hyderabad and Chennai. DivyaSree is also looking at opportunities in other urban markets. Its existing land bank will form part of the development pipeline, alongside new land acquisitions supported by the platform.
The partnership comes as DivyaSree looks to increase its presence in the residential segment. The company has traditionally been active in commercial real estate and has an established portfolio across major Indian cities.
Bhaskar N Raju, Chairman and CEO of DivyaSree Developers, said the partnership would support the company's next phase of growth. He also highlighted the role of the platform in taking forward its residential development plans.
Avinash Suresh, CEO of Residential Real Estate at DivyaSree Developers, said the arrangement would help the company move faster on planned projects. He also spoke about its aim to develop residential communities in markets where housing demand remains strong.
Vipul Roongta, Managing Director and CEO of HDFC Capital, pointed to the opportunities in India's housing sector. He also highlighted DivyaSree's experience in real estate development as a factor behind the partnership.
DivyaSree Developers is headquartered in Bengaluru. The group has delivered around 30 million sq. ft. of premium real estate across its operating markets.
HDFC Capital Advisors is the real estate private equity arm of the HDFC Group. It manages multiple SEBI-registered and IFSCA-registered Category II alternative investment funds, with a combined platform of $5 billion.
The new platform gives both companies a dedicated structure for pursuing residential development opportunities. The first two projects are expected to move forward once their agreements are finalised.
