Elan Group Repays Rs 875 Cr Debt

New Delhi, Jul 25 (PTI) Realty firm Elan Group has repaid Rs 875 crore debt to Asia Pragati Strategic Investment Fund, which is part of PAG, on better internal cash flow because of strong housing demand.

In a statement on Friday, the Gurugram-based company said it has made repayment of Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund before time.

Asia Pragati had infused this amount in 2022.


"The early repayment of the entire Rs 875 crore fund to Asia Pragati marks a pivotal milestone in Elan Group's growth journey,” said Sandeep Agarwal, Executive Director– Finance & Group CFO, Elan Group.

The company said this would help in reducing its interest costs.

Elan Group has a portfolio of 15 projects spread across Gurugram and New Delhi, with a built-up area of about 25 million square feet. The company has developed few commercial projects in Gurugram and has now ventured into residential segment with an ultra-luxury project on Dwarka Expressway.