Gurugram-based Elan Group has secured Rs 1,200 crore from Kotak Real Estate Fund. The funds would be deployed as growth capital, and help strengthen its footprint in the real estate market in the region.  

Kotak Real Estate Fund, an alternative real estate investment management practice of Kotak Alternate Asset Managers (Kotak Alts), has since its inception in 2005 raised over USD 3.5 billion in funds focusing on residential, office, retail, hospitality, warehousing, and other asset classes.

This investment from Kotak Real Estate Fund is strategic to delivering residential, commercial and hospitality projects. With this financial backing, it will fast-track its ongoing projects as well  as allow it to embark on new developments. Earlier, Elan Group awarded two construction contracts worth approx. Rs 2,000 crore to Leighton Asia for its luxury residential project, Elan The Presidential in Sector 106, Dwarka Expressway, and commercial development, Elan Imperial in Sector 82, Gurugram.

Elan Group’s portfolio consists of 15 projects spread across Gurugram and New Delhi, offering a built-up area of approx. 25 million sq. ft. in residential, retail, commercial and hospitality segments.