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.
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 and is listed on the Bombay Stock Exchange. Public issue hailed by investors in Eldeco's catchment area as a source of local pride.
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.
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, 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.
The Group expands its operations in Lucknow and Kanpur. Business focuses on development of large scale residential projects.
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 with a number of 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 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.
Pankaj Bajaj and EIPL take over promoter holding of EHIL.
One of the largest Hedge Funds Group in the world - Och Ziff - takes equity position in the unlisted EIPL.
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, Panipat, and Ludhiana.
The Group enters Rajasthan with 2 large residential projects in Neemrana. New projects launched in Lucknow by EHIL.
The group re-enters the Gurgaon market with mid-income housing on Sohna Road. Gives successful exit to numerous FDI and Private Equity partners.
Many new projects are tied-up including the group’s maiden entry into the Delhi office market.