Gurgaon-based developer Elan Group has secured ₹250 crore from Piramal Finance for a commercial project in the city, as reported by sources familiar with the matter.
This financing follows a ₹1,200 crore funding from Kotak Real Estate Fund last year, and the company aims to expedite its projects in the area.
In 2022, Elan Group raised $110 million (approximately ₹900 crore) from global alternative investment firm PAG.
“The funding is designated for a commercial project covering one million sq ft in Gurgaon,” stated one of the sources.
Elan Group opted not to comment, and transaction advisor CBRE was unavailable for remark.
Previously, Elan Group awarded construction contracts worth ₹2,000 crore to Leighton Asia for its luxury residential project, Elan The Presidential, located in Sector 106, Dwarka Expressway, alongside its new luxury commercial project, Elan Imperial, in Sector 82, Gurgaon.
Elan Group’s portfolio includes 15 projects across residential, retail, commercial, and hospitality sectors, collectively offering about 25 million sq ft of built-up area across Gurgaon and New Delhi.
In 2022, the group entered the luxury residential sector with the launch of Elan The Presidential.
According to Savills India, a global real estate consulting firm, private equity investments in the Indian real estate sector reached $2.4 billion (₹20,000 crore) in H1 2025, marking a 38% year-on-year increase.
