DivyaSree, HDFC Capital set up ₹1,500 cr residential development platform

The platform will acquire land and develop residential projects in Bengaluru, Hyderabad and Chennai, with a potential gross development value of ₹6,750 crore

Bengaluru-based real estate firm DivyaSree Developers has partnered with HDFC Capital Advisors Ltd, the real estate private equity arm of HDFC Group, to establish a ₹1,500 crore residential development platform, the company said in a statement on Monday.

 

The platform will acquire land and develop residential projects in high-growth markets such as Bengaluru, Hyderabad and Chennai. It will be supported by a potential gross development value (GDV) of ₹6,750 crore, the developer said.

 

“Our vision is to build a residential portfolio known for well-planned communities in the cities where demand is strongest, starting with Bengaluru, Hyderabad and Chennai and expanding into other high-growth urban markets. Our existing land bank, coupled with the acquisitions under the platform, will help us build a steady pipeline of launches over the next three to four years,” Avinash Suresh, chief executive officer – Residential Real Estate at DivyaSree Developers, said.

 

Vipul Roongta, managing director and CEO of HDFC Capital, said the organisation aims to support the development of a scalable pipeline of residential projects that delivers long-term value for homebuyers and other stakeholders through the partnership.

 

According to the company, the platform will focus on planned residential communities, with an emphasis on design, execution, sustainability and long-term value creation.

 

The developer added that term sheets for two residential projects had been signed and are expected to be finalised in the next two to three months. The projects will then be announced individually.

 

“This partnership with HDFC Capital reflects that ambition and the confidence in the growth we have planned for DivyaSree in the years ahead,” Bhaskar N Raju, chairman and CEO of DivyaSree Developers, said.

 

DivyaSree has delivered approximately 30 million sq. ft. of real estate and serves more than 72 clients, including eight Fortune 500 companies, with interests spanning commercial and residential property, hospitality, co-living, education and asset management.