HDFC Capital Advisors, the real estate private equity arm of the HDFC Group, has partnered with Shalimar Corp to establish a Rs 750 crore investment platform aimed at driving residential and mixed-use development across key growth corridors in Uttar Pradesh.
Key Highlights of the Venture:
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Scale and Scope: The platform targets a combined development potential exceeding 5 million square feet, encompassing approximately 3,000 residential units tailored to surging demand for aspirational housing.
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Target Geographies: Projects will focus primarily on high-growth Tier-2 urban centers in UP, including Lucknow, Varanasi, and Kanpur.
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Strategic Growth Drivers: Leadership from HDFC Capital noted that emerging urban centers in the state are positioned to lead the next phase of housing growth, fueled by rising household incomes, rapid urbanization, and major infrastructure upgrades.
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Developer Track Record: Shalimar Corp has delivered over 70 projects spanning more than 25 million square feet. Having launched projects worth Rs 6,000 crore over the last three years, the company plans an additional Rs 4,000 crore in project launches for FY27—with a particular strategic emphasis on Varanasi’s booming spiritual tourism and infrastructure landscape.
