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Elan Group raises $60 million from PAG for construction of realty projects, growth

The company has secured a second round of funding from PAG. In August this year, it had raised USD 50 million from PAG.

December 09, 2022 / 02:10 PM IST

Realty firm Elan Group on Friday said it has raised USD 60 million from global investment firm PAG to fund construction of projects, reduce debt and expand business.

The company has secured a second round of funding from PAG. In August this year, it had raised USD 50 million from PAG.

The investment will be used towards growth capital to endorse existing debt and to scale up construction of its new luxury housing project -- "The Presidential", located in Sector 106 Gurugram.

"This follow-on financing from PAG further strengthens the partnership between both firms and the team at Elan is geared up to put this capital to its most efficient use", said Sandeep Agarwal, CFO, Elan Group.