OTHER GROUP COMPANIES

HDFC Capital fetches Rs500 crore from global investors

The company intends to utilise the said fund for investments into start-ups that drive innovation and efficiencies within the affordable housing ecosystem.

September 20, 2022 11:35 IST | India Infoline News Service
HDFC Capital Advisors, a subsidiary of India's largest private mortgage lender HDFC, has raised over Rs500 crore as the first close of its property technology fund through global investors.

The company intends to utilise the said fund for investments into start-ups that drive innovation and efficiencies within the affordable housing ecosystem.

Through its initiative, HDFC Affordable Real Estate and Technology Program (HeART), it seeks to provide a platform for real estate technology entrepreneurs to build new solutions that will generate competencies and decrease costs throughout each level of a real estate project's development cycle.

The HDFC Group company has already made a few investments, including HomeExchange and Loyalie, and has committed to more than 15 investments in Indian prop-tech startups.

As part of this endeavour, HDFC Capital will shortly establish the HDFC Tech Innovators programme in collaboration with the Indian government, other top global and Indian funds, academics, and industry groups to discover the most creative prop-tech businesses.

This will be an ongoing campaign in the search for innovative technology businesses in the affordable housing category with which to cooperate.

In addition to finance, HDFC Capital intends to establish an industry-wide ecosystem comprising players from the government, academics, developers, private equity, and venture capital funds in order to spur policy initiatives.

It will also collaborate with accelerators and academic institutions to advance ideas for improving housing construction.

At around 11.37 AM, HDFC was trading at Rs2,472.55 per piece, up by 1.28% from its previous closing of Rs2,441.20 on the BSE.

For feedback and suggestions, write to us at editorial@iifl.com

Invest wise with Expert advice

FEATURED ARTICLE

BLOGS

Open Demat Account

Invest wise with Expert advice

By continuing, I accept the Terms & Conditions and agree to receive updates on Whatsapp