Elan Group Bags ₹250 Crore from Piramal Finance for Gurgaon Commercial Project

Gurgaon‑based Elan Group has secured a ₹250 crore financing deal from Piramal Finance, aimed at fast‑tracking the development of a new commercial project spanning over 1 million sq ft in the city .

This financing builds on the group’s strong recent funding record:

• ₹1,200 crore from Kotak Real Estate Fund last year
• ₹900 crore (USD 110 million) from global firm PAG back in 2022

Industry sources suggest CBRE acted as the financial advisor on this transaction. The fresh infusion will help accelerate timelines across Elan’s expansive portfolio of 15 projects, which includes residential, retail, commercial, and hospitality developments totalling around 25 million sq ft across Gurgaon and Delhi.

Moreover, Elan recently awarded construction contracts worth a combined ₹2,000 crore to Leighton Asia for two flagship developments:

• Elan Imperial, its premium commercial tower in Sector 82, Gurgaon
• Elan The Presidential, a luxury residential complex on the Dwarka Expressway

The group’s expansion into luxury housing began with the launch of Elan The Presidential in 2022 .

What This Means for You (Elan Group):

• Boosted development momentum: With seasoned funders like Piramal, Kotak, and PAG backing its projects, Elan is well-positioned to deliver high-quality spaces faster.
• Commercial real estate on the rise: The injection underscores continued investor confidence in Gurgaon’s commercial property landscape.
• Scale & diversification: Elan’s portfolio now stretches across multiple segments and geographies—putting it among the region’s most diversified developers.

Source : – Realty ET