HDFC Capital, Shalimar Corp form ₹750-cr platform to develop realty projects

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The platform will develop over 5 million sq. ft. of area and around 3,000 homes

By PTI

Updated - September 30, 2026 at 02:14 PM. | New Delhi, Sept 30

The platform will develop residential and mixed use projects across Lucknow, Varanasi and Kanpur | Photo Credit: SeizaVisuals

HDFC Capital, the real estate private equity arm of HDFC Group, has partnered with Shalimar Corp to set up a ₹750-crore platform for residential and mixed-use projects across Lucknow, Varanasi, and Kanpur.

Through this platform, over 5 million sq. ft. of area and around 3,000 homes will be developed, according to a statement issued on Wednesday.

"Emerging urban centres across Uttar Pradesh are poised to lead the next phase of housing growth, supported by rising incomes, urbanisation, and infrastructure development," Vipul Roongta, Managing Director & CEO of HDFC Capital, said.

The partnership with Shalimar combines deep local expertise with institutional capital to accelerate the delivery of quality housing in these promising residential markets, he added.

Khalid Masood, Managing Director, Shalimar Corp, said the company in partnership with HDFC Capital, will develop vibrant, thoughtfully planned communities across Uttar Pradesh.

HDFC Capital, a subsidiary of HDFC Bank Ltd, is focused on financing the development of affordable and mid-income homes sustainably.

Founded in 1988, Shalimar Group is a diversified real estate and infrastructure-focused business group headquartered in Lucknow.

The group has interests across real estate and infrastructure development, property management and glass processing.

Published on September 30, 2026

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