HDFC Capital Advisors Ltd, a wholly owned subsidiary of HDFC Ltd has acquired a minority stake in HomeKraft, an ATS Group company.

As per a release by HDFC, HomeKraft will invest above USD 300 million for development of affordable and mid-income housing across India with a mix of internal accruals, debt and private equity funds.

Further, Renu Sud Karnad, HDFC Ltd MD stated, “The affordable housing segment is expected to see healthy growth going forward given the impetus provided by the government through various incentives and subvention scheme. HDFC is delighted to partner with a reputed developer like ATS for their foray in this segment and our funds will provide flexible financing to HomeKraft to meet its capital requirements and address the demand-supply gap in affordable housing in India.”

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