Hulic and HDFC Capital make first joint investment in Mumbai residential project

Japanese real estate company Hulic Co Ltd and HDFC Capital Advisors Ltd, a subsidiary of the private equity firm HDFC Group, have made their first joint investment through a common senior secured debt platform for a residential construction project in India.

According to a joint statement released on Monday, this investment pertains to a residential development project located in the western part of Mumbai. The statement also noted that the project is potentially poised to benefit from its proximity to established commercial centers and employment hubs, as well as good transportation connectivity.

The companies did not disclose either the size of the invested funds or the name of the project. Nevertheless, they forecast strong long-term growth in the Indian housing market, which is supported by urbanization, increasing household incomes, and improved employment opportunities.

They added that the demand for housing among middle-income earners in major urban agglomerations remains robust. Sohei Okuno, Managing Director and General Manager of Hulic's Global Investment Department, expressed satisfaction with participating in this deal alongside HDFC Capital, calling it one of the leading players in India's residential construction market. He noted that this transaction represents a unique opportunity aligning with Hulic's investment strategy and expressed hope for further strengthening the partnership.

Okuno also believes that real estate assets in India will continue to benefit from strong underlying demand, driven by the country's young population and economic expansion. Hulic and HDFC Capital intend to deepen their relationship and explore additional opportunities for collaboration in India's real estate sector.

Vipul Rungta, CEO of HDFC Capital, emphasized the strategic and growing nature of relations between Japan and India. He noted that the governments of both countries deserve praise for setting the ambitious goal of attracting 10 trillion yen in Japanese private investment into India over the next decade, reflecting confidence in India's long-term growth. Rungta also pointed out that this collaboration demonstrates HDFC Capital's strong track record, deep ties with developers, and ability to provide tailored investment solutions.

HDFC Capital acts as the manager for several Alternative Investment Funds (AIFs) which collectively form a $5 billion platform. The company launched the first private equity platform in real estate in India focused on the Mumbai Metropolitan Region (MMR) and brought Hulic on board as a principal investor. It is worth noting that Hulic's portfolio includes office buildings, commercial properties, and hotels, primarily located in central Tokyo.

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business-standard.comAugust 25, 16:11

Haldiram's plans to invest 1000 crore rupees in a new production complex in Odisha

Haldiram Snacks (Haldiram’s), one of India's largest companies in packaged snacks and food products, has announced plans to invest 1000 crore rupees in establishing a new manufacturing facility in the state of Odisha. The company intends to implement the project in three phases for its savory snacks and bakery division.

The state government has already approved the first phase investment of 500 crore rupees during a recent state-level single-window clearance body meeting. Although the exact location has not yet been determined, the facility is expected to be built in the Khordha-Katka region and become one of the largest snack and bakery production centers in Eastern India.

Investment Agreements and Food Industry Development

Haldiram’s was among nine major companies that signed memorandums of understanding with the Odisha government during a recent investor summit in New Delhi. The Odisha FoodPro 2026 summit secured commitments for over 6000 crore rupees in food processing investments, while a broader Delhi-National Capital Region (NCR) industrial initiative attracted investment proposals worth 66,392 crore rupees across various sectors.

For Haldiram’s, the proposed plant in Odisha will mark an expansion of its production base as the company increases its product range and strengthens its domestic and international supply chains. Founded in Bikaner in 1937, the company relocated to Delhi and Nagpur in the early 1980s, subsequently building manufacturing units in key locations such as Nagpur, Noida, Rudrapur, Delhi-NCR, and Howrah. Today, its products include traditional namkeens and sweets, as well as Western snacks, ready-to-eat and frozen foods, baked goods, and beverages.

Competition and New Players in the Odisha Market

Besides Haldiram’s, other major investment plans have emerged in Odisha. Coca-Cola, an existing player in the state, has proposed further expansion with an investment of 300 crore rupees in another soft drink manufacturing unit. Balaji Wafers and Let’s Try have also announced plans to invest 200 crore rupees each, while Beyond Snack, known for its banana chips from Kerala, plans to invest 150 crore rupees to establish production in the state.

The proposed investments from Balaji add another national brand to the emerging food processing cluster in Odisha. This cluster includes companies such as ITC, Nestlé, Parle, Britannia, Indo Nissin, Hindustan Unilever, Reliance, and Tata Consumer Products, as well as Varun Beverages. Balaji already has a strong presence in the Indian packaged snack market, and the announced investments will increase production capacity for packaged namkeens, wafers, and other convenient consumption products.

Let’s Try, a relatively young food brand known for peanut butter snacks, is actively expanding its production and distribution capabilities. These investments will allow this growing brand to establish a larger manufacturing base as part of its push beyond existing markets.

Government Support and Regional Potential

Odisha produces a wide range of raw materials with processing potential, including rice and other cereals, sorghum, cashew, jackfruit, mango, sweet potato, turmeric, chili pepper, mushrooms, corn, spices, and dairy products. The state government has identified these products for deeper processing, packaging, branding, and value addition. Plans have been announced to create five food parks that will provide an ecosystem for companies, enabling them to transform local agricultural and traditional products into nationally recognized brands.

Hemant Sharma, Additional Minister for Industries in the Odisha government, noted that such an ecosystem will give fast-moving consumer goods companies access to raw materials, labor, markets, and logistics, while allowing them to source more resources locally. Sharma told Business Standard: 'The government is creating an ecosystem where large food processing companies, suppliers, farmers, logistics operators, cold chain providers, and small businesses can operate around a common infrastructure. This will help link processing units with agricultural production centers.'