HDFC, HDFC Life insurance coverage acquires stake in Xanadu Realty

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India’s largest non-public sector mortgage lender (HDFC) and its subsidiary has acquired a stake in an actual property enterprise accelerator agency Xanadu Realty.

The strategic funding for a major minority stake values ​​the agency at round Rs 1,000 crore pre-money, mentioned individuals accustomed to the event.

The funding from

and HDFC Life Insurance coverage Co. is predicted to help Xanadu Realty’s proposed strategic growth initiatives and growing proprietary tech platforms.

Each HDFC and Xanadu confirmed the transaction, however declined to touch upon the deal dimension and valuation.

Began by business consultants R Karthik and Anurag Singhvi, Xanadu has helped realty builders in complete turnaround of their actual property portfolio. It has developed and executed finish to finish technique for product, design, advertising and marketing, and gross sales for builders.

“I’ve nice religion within the professionals operating Xanadu. I’ve recognized the founders, Karthik and Anurag for over a decade, and they’re constructing an impressive tech-driven, actual property group centered on supply of distinctive options for the big Indian actual property ecosystem,” Deepak Parekh, Chairman, HDFC, advised ET.

Just lately, HDFC’s subsidiary HDFC Capital Advisors had additionally invested in Loyalie IT Options, an actual property digital facilities supplier, below its program to spend money on expertise corporations for the advantage of the actual property ecosystem.

Based in 2016, Xanadu Realty initiated the idea of offering end-to-end product-to-market providers by means of its proprietary full-stack advertising and marketing and gross sales platform by which it takes over the complete income technology a part of actual property builders’ tasks or their total portfolio.

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“This funding is a validation of our differentiated method to remodel the actual property area with leading edge expertise options. This strategic partnership will go a good distance in unlocking exponential potential for Xanadu Realty and Indian actual property sector at giant,” mentioned R. Karthik, MD & co-founder, Xanadu Realty.

Xanadu has labored with over 55 tasks of 36 actual property builders together with Hiranandani Group, Runwal Group, Tata Realty & Infrastructure,

Group, Raunak Group, Paranjape Schemes and Kumar Properties. The corporate’s shopper gross sales stood at over Rs 2,000 crore in 2021-22.

“We’ve grown 10 occasions in gross sales supply since our inception. With over 600 workers throughout Mumbai, Pune and Bangalore places of work, we now have achieved gross sales of over Rs 2,000 crore for our purchasers in FY22 and this quantity is predicted to double in FY23,” mentioned Anurag Singhvi, MD & co-founder, Xanadu Realty.

Mumbai-based actual property centered Funding Financial institution Trustcap acted as the only monetary advisor to the transaction between HDFC and Xanadu Realty.

Xanadu works on a database of 65 lakh prospects in Mumbai Metropolitan Area (MMR) on its X-Intel platform, which is a database administration system developed by the corporate.

This platform will probably be operationalized in Pune and Bangalore by the tip of this monetary 12 months and regularly in different key markets. Within the monetary 12 months 2021-22, the corporate has finished over 80,000 face-to-face buyer engagements and round 1 million interactions to ship on the corporate’s enterprise plans.

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