HDFC Capital raises nearly $1.8 billion fund for affordable housing financing

4 months ago 38

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HDFC Capital, a wholly-owned subsidiary of HDFC Ltd, has achieved the archetypal adjacent of its 3rd money of $1.88 cardinal (about Rs 13,500 crore) focused connected affordable housing.

HDFC Capital's people is to concern the improvement of 1 cardinal affordable homes successful India done a operation of innovative financing, partnerships and technology, whilst focusing connected sustainability, the institution said successful a statement.

In bid to execute this objective, the institution is successful progressive discussions with starring planetary investors to rise further funds to beryllium invested successful affordable lodging successful India.

Also Read: HDFC Bank Q3 nett jumps 18% to Rs 10,342 crore

The HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) is 1 the largest funds raised to put successful the residential existent property assemblage successful India with investors committing successful excess of $1.22 cardinal towards the archetypal close. It combined with imaginable reinvestments by the money creates an estimated full money corpus of $1.88 billion, it said.

The superior capitalist successful H-CARE 3 is simply a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), it said adding that the money volition supply long-term, flexible backing crossed the lifecycle of affordable and mid-income lodging projects, including early-stage funding.

In addition, it said H-CARE 3 volition besides put successful exertion companies (construction technology, fintech, cleantech, etc.) engaged successful the affordable lodging ecosystem.

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"HDFC Capital has been 1 of the pioneers of investing successful affordable and mid-income lodging projects successful India.
"With enactment from marquee planetary investors similar ADIA and partnerships with starring developers, the level is good connected its mode to ensuring galore much Indians go homeowners," HDFC Chairman Deepak Parekh said.

At HDFC Capital, the imaginativeness is to concern the improvement of the affordable lodging ecosystem successful India and supply a seamless level for each stakeholders including planetary investors, developers, and vendors to entree financing and exertion innovations, the company's Managing Director Vipul Roongta said.

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