Latest news with #AsiaPragatiStrategicInvestmentFund
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Business Standard
6 days ago
- Business
- Business Standard
Elan Group repays Rs 875 cr debt to Asia Pragati Strategic Investment Fund
In a move to strengthen its financial position, Gurugram-based developer Elan Group on Friday announced the repayment of Rs 875 crore debt availed from the Asia Pragati Strategic Investment Fund, which is part of one of Asia's largest private equity (PE) funds, PAG. 'Asia Pragati had invested Rs 875 crore in the Elan Group in 2022, with the funds used towards growth capital,' the firm said in a statement. The company stated that the repayment was achieved ahead of the scheduled timeline, with the strategic deleveraging expected to reduce interest liabilities, strengthen liquidity, and create headroom for reinvestment into future projects and land acquisitions. 'In an industry where prudent capital management is key to long-term leadership, this development reinforces Elan Group's position as a future-ready developer with the financial resilience to scale, deliver, and lead with conviction,' said Sandeep Agarwal, Executive Director for Finance and Group Chief Financial Officer (CFO) at Elan Group. The move comes just a week after the real estate firm raised Rs 250 crore from Piramal Finance for the construction of a new project in Gurugram. It had also raised around Rs 1,200 crore from Kotak Real Estate Fund last year. Elan added that the enhanced financial flexibility will allow the group to accelerate construction schedules and deepen its presence in high-opportunity markets. 'With a leaner balance sheet, strong fundamentals, and an ambitious project pipeline, Elan Group is well-positioned to seize emerging growth opportunities and further its evolution as one of India's most agile and future-focused real estate developers,' it said. The realty firm has a portfolio of 15 projects spread across Gurugram and New Delhi, offering a built-up area of approximately 25 million square feet (msf), which includes ultra-luxury residential projects and integrated commercial and retail destinations.
Time of India
6 days ago
- Business
- Time of India
Elan Group repays ₹875 crore debt to PAG's Asia Pragati Fund, strengthens financial position
Elan Group, a Gurgaon-based developer, has repaid Rs 875 crore debt to Asia Pragati Strategic Investment Fund, enhancing its financial flexibility. This strategic move will reduce interest liabilities and create opportunities for reinvestment in future projects and land acquisitions. Recently, the company also raised Rs 250 crore from Piramal Finance for a commercial project. Tired of too many ads? Remove Ads Gurgaon-based developer Elan Group , which has recently raised Rs250 crore from Piramal Finance for the construction of a commercial project in the city, has repaid Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund , part of PAG — one of the largest private investment firms in Asia Asia Pragati invested Rs 875 crores in Elan Group in the year 2022, with the funds used towards growth capital.'In an industry where prudent capital management is key to long-term leadership, this development reinforces Elan Group's position as a future-ready developer with the financial resilience to scale, deliver and lead with conviction,' said Sandeep Agarwal, Executive Director–Finance & Group CFO, Elan strategic deleveraging is expected to reduce interest liabilities, strengthen liquidity and create headroom for reinvestment into future projects and land acquisitions. The enhanced financial flexibility will allow the Group to accelerate construction schedules and deepen its presence in high-opportunity Group holds a portfolio of 15 projects spread across Gurugram and New Delhi, offering a built-up area of approximately 25 million sq. ft. This includes ultra-luxury residential projects such as Elan The Emperor and Elan The Presidential alongside integrated commercial and retail destinations like Elan The Mark, Elan Imperial, Elan Empire, Elan Paradise, Elan Epic, Elan Town Centre, Elan Miracle and Elan company had also raised Rs 1,200 crore funding from Kotak Real Estate Fund last year.
Deccan Herald
6 days ago
- Business
- Deccan Herald
Realtor Elan Group repays Rs 875 cr debt to Asia Pragati
New Delhi, Realty firm Elan Group has repaid Rs 875 crore debt to Asia Pragati Strategic Investment Fund, which is part of PAG, on better internal cash flow because of strong housing a statement on Friday, the Gurugram-based company said it has made repayment of Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund before Pragati had infused this amount in 2022.."The early repayment of the entire Rs 875 crore fund to Asia Pragati marks a pivotal milestone in Elan Group's growth journey,' said Sandeep Agarwal, Executive Director– Finance & Group CFO, Elan company said this would help in reducing its interest Group has a portfolio of 15 projects spread across Gurugram and New Delhi, with a built-up area of about 25 million square feet. The company has developed few commercial projects in Gurugram and has now ventured into residential segment with an ultra-luxury project on Dwarka Expressway.
News18
6 days ago
- Business
- News18
Realtor Elan Group repays Rs 875 cr debt to Asia Pragati
New Delhi, Jul 25 (PTI) Realty firm Elan Group has repaid Rs 875 crore debt to Asia Pragati Strategic Investment Fund, which is part of PAG, on better internal cash flow because of strong housing demand. In a statement on Friday, the Gurugram-based company said it has made repayment of Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund before time. Asia Pragati had infused this amount in 2022. 'The early repayment of the entire Rs 875 crore fund to Asia Pragati marks a pivotal milestone in Elan Group's growth journey," said Sandeep Agarwal, Executive Director– Finance & Group CFO, Elan Group. The company said this would help in reducing its interest costs. Elan Group has a portfolio of 15 projects spread across Gurugram and New Delhi, with a built-up area of about 25 million square feet. The company has developed few commercial projects in Gurugram and has now ventured into residential segment with an ultra-luxury project on Dwarka Expressway. PTI MJH MJH ANU ANU Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
