Elan Group repays ₹875 crore debt to PAG’s Asia Pragati Fund, strengthens financial position

Gurgaon-based developer Elan Group, which has recently raised Rs250 crore from Piramal Finance for the construction of a commercial project in the city, has repaid Rs 875 crore debt availed from Asia Pragati Strategic Investment Fund, part of PAG — one of the largest private investment firms in Asia.

Asia Pragati invested Rs 875 crores in Elan Group in the year 2022, with the funds used towards growth capital.

“In an industry where prudent capital management is key to long-term leadership, this development reinforces Elan Group’s position as a future-ready developer with the financial resilience to scale, deliver and lead with conviction,” said Sandeep Agarwal, Executive Director–Finance & Group CFO, Elan Group.


This strategic deleveraging is expected to reduce interest liabilities, strengthen liquidity and create headroom for reinvestment into future projects and land acquisitions. The enhanced financial flexibility will allow the Group to accelerate construction schedules and deepen its presence in high-opportunity markets.

Elan Group holds a portfolio of 15 projects spread across Gurugram and New Delhi, offering a built-up area of approximately 25 million sq. ft. This includes ultra-luxury residential projects such as Elan The Emperor and Elan The Presidential alongside integrated commercial and retail destinations like Elan The Mark, Elan Imperial, Elan Empire, Elan Paradise, Elan Epic, Elan Town Centre, Elan Miracle and Elan Mercado.

The company had also raised Rs 1,200 crore funding from Kotak Real Estate Fund last year.