hdfc: HDFC Capital Invests in 15 Startups to Drive Innovation and Efficiency in Affordable Housing

HDFC Capital Advisors, a subsidiary of HDFC, India’s largest private mortgage lender, will financially support 15 Indian start-ups through the HDFC Affordable Real Estate and Technology Program (H@ART), a real estate technology fund made it clear.

In September, we raised over Rs 50 crore in the first closing of our Real Estate Technology Fund through global investors to support start-ups driving innovation and efficiency within the affordable housing ecosystem. did.

To identify the most innovative proptech companies, HDFC Capital has partnered with the Government of India, other leading global and Indian funds, academia and industry associations to bring these 15 startups through the HDFC Tech Innovator Program. selected.

The rate of technology absorption and adoption in the real estate sector has so far proved slower than other infrastructure segments, said Hardeep Singh Puri, union minister for housing and urban affairs, in a video address at H@ART. said. Summit held in Mumbai. Platforms such as HDFC Capitals Housing and Real Estate Technology Platform are vital to the real estate industry, where he is the second largest employer in India and is expected to contribute 13% of his GDP in 2030.

According to him, these efforts to boost the adoption of technology in Indian real estate will encourage start-ups to build more disruptive innovations that target and further strengthen the country’s housing ecosystem.

HDFC Chairman Deepak Parekh said: H@ART is a unique initiative for real-time interaction between demand (industry), supply (startups) and investors to accelerate the adoption of technology in the built world.

HDFC Real Estate Tech Innovators 2022 Challenge, conducted in partnership with Startup India, received overwhelming response from over 537 startups categorized in Project Management & Construction Tech, Sales & Fintech, Sustainability Tech .

Mohamed AlQubaisi, executive director of real estate at the Abu Dhabi Investment Authority (ADIA), said residential real estate is the next sector ADIA expects to see proptech disrupt. To reduce costs, improve productivity, and increase sales, proptech must be employed. Proptech promotes his ADIA and HDFC in India where he aims to finance a one million housing development, he said.

ADIA owns 10% of HDFC Capital. This is an ongoing initiative to identify and partner with innovative technology companies in the affordable housing segment. The HDFC Group entity has already made several investments, including HomeExchange, Loyalie and Monsoon Credit.

Vipul Roongta, MD and CEO of HDFC Capital Advisors, said that H@ART will provide a seamless platform for all stakeholders, including global investors, developers, start-ups and vendors, with the latest technology and Access financing innovations to enable sustainable, smart and affordable housing development in India.

Proptech in India is still in its early stages, but there is a lot of room for growth and development. The number of proptech startups in India increased by 48% after the pandemic, but he still accounts for only 6% of all recognized startups in the country. Of the approximately 65 unicorns launched in India last year, only a few were in the proptech sector.

According to industry estimates, the Indian real estate sector could reach a market size of $1 trillion by 2030 from $200 billion in 2021, contributing around 13% of India’s GDP by 2030 .

Seeing $741 million in investment in 2021, India’s proptech sector could witness exponential growth in the coming years.

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