HDFC Capital Acquires Stake in Truboard Technologies to Boost Real Estate Innovation This strategic investment will help in accelerating technology enhancements, expanding market reach, and ensuring robust infrastructure and customer support for future growth.
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HDFC Capital Advisors Limited has acquired an 8.5% stake in Truboard Technologies, a company that has developed a technology platform called TruGenie for real estate asset management.
"This strategic investment by HDFC Capital is a testament to our vision and the value we bring to our industry. We are poised to accelerate our growth, innovate at a faster pace, and make a greater impact, and we will continue to strive for excellence and innovation," said Vipul Thakore, Co-founder of TruBoard.
This strategic investment will help in accelerating technology enhancements, expanding market reach, and ensuring robust infrastructure and customer support for future growth.
Vipul Roongta, Managing Director and CEO at HDFC Capital, said, "We believe that technology solutions will play a critical role in real estate development and asset management. Our investment in TruBoard is part of the H@ART initiative, which has been set up to invest in and partner with technology companies that bring efficiencies to the real estate ecosystem."
TruGenie addresses the needs of investors, asset owners, and developers and is currently being utilised by top private banks and real estate funds.
Nilesh Shah, Managing Director of Kotak Mutual Fund, added, "TruBoard's TruGenie advanced tech-led monitoring platform is revolutionising real estate management. By leveraging AI, IoT, and big data analytics, it provides capital providers, developers, and customers with real-time insights and improved decision-making. HDFC Capital's investment will speed up TruGenie's innovation, improve asset performance, and increase market value."
HDFC Capital, the real estate private equity arm of HDFC Group, focuses on financing affordable and mid-income housing in alignment with India's 'Housing for All' initiative. Managing over USD 3 billion across four SEBI-registered Category II Alternative Investment Funds, it promotes innovation and technology adoption in the real estate sector.
