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Eldeco Group
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Eldeco Group

Eldeco Group

The Eldeco Group has been at the forefront of Real Estate development in North India since 1975. The group is synonymous with timely and quality delivery in a number of cities like Lucknow, Kanpur, Agra, Noida, Greater Noida and other parts of NCR of Delhi. Carrying more than 35 years of expertise in construction and real estate development, Eldeco has delivered more than 200 projects spanning townships, high-rise condominiums, industrial estates, malls and office complexes. In addition, 30 projects are in various stages of active execution. The aggregate delivered area stands at more than 40 million sq.ft with more than 25000 satisfied customers. Currently apart from the towns mentioned above, Eldeco is developing projects in Panipat, Sonepat, Ludhiana, Jhansi, Neemrana and Jalandhar. The unique 1200 acres state-of-art Eldeco Sidcul Industrial Park at Sitarganj, Uttarakhand is Eldeco's flagship project in the industrial sector.

Eldeco’s transparent and principle driven business philosophy has been widely recognized. The group’s business activities rest on the principle of high quality, superior construction technology and high consumer satisfaction. Eldeco stands firm in its commitment to ‘creating value and cementing trust’ and is headed towards ever-greater success.

The Group has two main companies

Eldeco Housing and Industries Ltd. (EHIL): Incorporated in 1985, EHIL has held an uninterrupted market leadership position in most major towns of UP, most notably Lucknow and Kanpur. EHIL is listed on the Bombay Stock Exchange and has had an uninterrupted dividend paying record since inception.

Eldeco Infrastructure and Poperties Ltd. (EIPL): Incorporated in 2000 to professionally undertake projects in the NCR, EIPL in recent years has had rapid growth in other regions as well. EIPL is a closely held unlisted company that also acts as the promoting company for many projects specific special purpose companies.

Management

The group is professionally managed under the chairmanship of Mr. S K Garg, who has over 35 years experience in real estate business. He has received several awards acknowledging his and Eldeco's contribution in the field of construction and housing. Mr. Pankaj Bajaj is the Managing Director of both EIPL and EHIL. He is an MBA from Indian Institute of Management, Ahmedabad with over 15 years experience in construction and real estate development. Business heads and other senior managers in the group are all well-qualified professionals with wide experience in their respective fields.

History

The Eldeco group was founded in 1975 in Agra by Mr. S K Garg to professionally undertake real estate and construction projects. The Eldeco Group was formed with a vision to excel in this field on the ideals of timely delivery, ethics in business and transparency.

  • 1975 - 1984: ECPL undertakes real estate and construction projects in Agra and other towns of UP and gradually acquires a strong reputation for its fair and transparent business practices.

  • 1985: Eldeco Housing and Industries Ltd. (EHIL) goes public and is listed on the Bombay Stock Exchange. Public issue hailed by investors in Eldeco's catchment area as a source of local pride.

  • 1985 - 1993: Eldeco strengthens its position as the market leader in UP. Establishes strong presence in Lucknow developing amongst others, 300 acres in joint development with Lucknow Development Authority - one of the first instances of Public Private Partnership (PPP) in the country.

  • 1993: Mr. O P Bajaj, a prominent Agra based businessman and erstwhile client and friend of Mr. S K Garg, joins EHIL as co-promoter. The added financial and business muscle allows the group to add many more projects to its portfolio in the next few years.

  • 1996: Mr. Pankaj Bajaj, son of Mr. O P Bajaj, joins as a promoter director on the board of EHIL. His background includes a B Com. (Hons.) with distinction from Shri Ram College of Commerce (1993), Delhi, an MBA from IIM Ahmedabad (1995) and a short stint as a management consultant advising MNCs on their entry strategy in India.

  • 1996 - 1999: The Group expands its operations in Lucknow and Kanpur. Business focus is on development of large scale residential projects.

  • 2000: Mr. Pankaj Bajaj forms a new company, Eldeco Infrastructure and Properties Ltd. (EIPL). EIPL's focus is to undertake large projects in the NCR of Delhi and other states of North India.

  • 2000-2004: EIPL expands rapidly in the NCR of Delhi with a number of successful residential projects especially in the Noida and Greater Noida region. EHIL continues its leadership position in Lucknow and Kanpur.

  • 2005-2008: Eldeco group expands rapidly with the integrated township format to Sonepat, Panipat, Ludhiana and Jalandhar. One of largest Industrial Parks in the PPP format- 1200 acres in Sitarganj, Uttarakhand- is undertaken by EIPL. FDI partnership is tied up for township projects in Lucknow and Jalandhar.

  • 2008: One of the largest Hedge Funds Group in the world -Och Ziff- takes equity position in EIPL

  • 2008-2011:  The Group focuses on execution of large scale projects in hand in the aftermath of the worldwide financial crisis. Large scale deliveries are achieved in Noida, Greater Noida, Lucknow and other locations 

  •  2012: The Group looks for growth again

 

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