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Gurugram-based Elan Group has raised INR 140 crore from a real estate credit platform co-managed by BGO and Aditya Birla Sun Life AMC, marking another significant step in its financial restructuring. The fresh funding comes shortly after the developer secured INR 250 crore from Piramal Finance to support a commercial project and repaid INR 875 crore to PAG's Asia Pragati fund. The repayment, ahead of schedule, lowered interest liabilities and strengthened its financial position. With a history of drawing global investment including PAG's USD 110 million (INR 900 crore) in 2022 Elan appears focused on balancing debt and expansion in a competitive property market.
Elan Group, a Gurugram-based developer, has taken another decisive step in reshaping its financial structure by raising INR 140 crore through a real estate credit platform managed jointly by BGO and Aditya Birla Sun Life AMC. The deal highlights the company's continuing effort to combine new fundraising with proactive debt management. Advertisement
This move comes on the back of a recent INR 250 crore infusion from Piramal Finance, earmarked for construction of a commercial project in Gurugram. Only weeks earlier, Elan had also completed a substantial repayment of INR 875 crore to PAG's Asia Pragati Strategic Investment Fund, an obligation dating back to growth capital provided in 2022. Settling the liability early allowed the developer to ease its interest burden and redirect resources into upcoming projects and land purchases.
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