The Eldeco group was founded in 1975 in Agra by 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
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.
ELDECO HOUSING AND INDUSTRIES LTD. (EHIL) GOES PUBLIC
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 of Agra in UP as a source of local pride.
1985 - 1993
ELDECO STRENGTHENS ITS POSITION AS THE MARKET LEADER IN UP
Eldeco strengthens its position as the market leader in UP. Establishes strong presence in Lucknow developing, amongst others, a 200 acres township in joint development with Lucknow Development Authority - one of the first instances of Public-Private Partnership (PPP) in the country.
O. P. BAJAJ JOINS EHIL AS CO-PROMOTER
O. P. Bajaj, a prominent Agra based businessman, joins EHIL as co-promoter. The group adds many more projects to its portfolio in the next few years.
PANKAJ BAJAJ JOINS EHIL
Pankaj Bajaj, son of O. P. Bajaj, joins the board of EHIL. His background includes a B Com. (Hons.) 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
The Group expands its operations in Lucknow and Kanpur. The business focuses on the development of large scale residential projects.
PANKAJ BAJAJ FORMS A NEW COMPANY EIPL
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.
EIPL EXPANDS RAPIDLY IN THE NCR OF DELHI
EIPL expands rapidly in the NCR of Delhi with several successful residential projects especially in the Noida and Greater Noida region. EHIL continues its leadership position in Lucknow and Kanpur.
ELDECO GROUP EXPANDS RAPIDLY WITH THE INTEGRATED TOWNSHIP FORMAT
Eldeco group expands rapidly with the integrated township format to Sonepat, Panipat, Ludhiana and Jalandhar. One of the 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.
PROMOTERS RESHUFFLE IN EHIL
Pankaj Bajaj and EIPL take over the entire promoter holding of EHIL.
OCH ZIFF TAKES EQUITY POSITION IN EIPL
One of the largest Hedge Funds Group in the world - Och Ziff - takes an equity position in the unlisted EIPL.
THE GROUP FOCUSES ON EXECUTION OF LARGE SCALE PROJECTS
The Group focuses on the 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, Panipat, and Ludhiana.
THE GROUP CONSOLIDATES IN EXISTING CITIES AND ENTERS NEW CITIES
The group re-enters the Gurgaon market with mid-income housing on Sohna Road. Launches new projects in Lucknow and Panipat. Commences work on flagship commercial project Eldeco Centre in Malviya Nagar, Delhi. Gives a successful exit to numerous FDI and Private Equity partners.
Completion of large format projects across cities. Launch of 2 million sq ft Eldeco Live By the Greens in Noida. On the anvil-launch of township projects in Bareilly, Panchkula, Lucknow, Panipat and Ludhiana.