HDFC Property Fund (HIREF), a closed-end real estate private equity (PE) fund, sponsored by Housing Development Finance Corporation, has distributed a majority of its stake in Pune-based Vascon Engineers (VEL) to existing investors at a loss of 75-80 per cent. This was one of the last major investments the PE fund was holding on to after it completed its seven-year tenure in 2013.
The fund held 12.83 per cent in Vascon, now pruned to 2.4 per cent. After this exit, the PE fund will have only one investment left, South India-based real estate projects company Ozone, in which it had invested Rs 25 crore.
Vascon Engineers has significant experience in providing EPC services, which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 4094.95 |
| Rail Vikas Nigam | 303.10 |
| NCC | 161.30 |
| KEC International | 580.10 |
| Kalpataru Projects | 1232.90 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: