The Eldeco group has been at the forefront of real estate development in North India. The group has pioneered organized sector real estate development in this region. The main companies in the group are
Eldeco Housing and Industries Ltd. (EHIL) : Incorporated in 1985, EHIL has held an uninterrupted market leadership position in most major towns of UP, most notably Lucknow and Kanpur. EHIL is listed on the Bombay Stock Exchange and has had an uninterrupted dividend paying record since inception.
Eldeco Infrastructure and Properties Ltd. (EIPL) : Incorporated in 2000 to professionally undertake projects in the NCR, EIPL in recent years has had rapid growth in other regions as well. EIPL is a closely held unlisted company that also acts as the promoting company for many project specific special purpose companies.
The Eldeco group was founded in 1975 by Mr. S K Garg in Agra to professionally undertake real estate and construction projects. Before this, he had a long stint as a lecturer in Civil Engineering at BITS Pilani and thereafter as a consultant in Agra. During his consultancy in Agra and nearby towns, he sensed a void in the field of professional construction and real estate development. Eldeco Construction Pvt. Ltd. (ECPL) was formed with a vision to excel in this field on the ideals of timely delivery, ethics in business dealings and transparency.
1975 - 1984 : 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.
1985 : 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.
1985 - 1993 : 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.
1993 : Mr. O P Bajaj, a prominent Agra based businessman and erstwhile client and friend of Mr. S K Garg, joins EHIL as co-promoter. The added financial and business muscle allows the group to add many more projects to its portfolio in the next few years.
1996 : Mr. Pankaj Bajaj, son of Mr. O P Bajaj, joins Mr. S K Garg as a promoter director on the board of EHIL. His background includes a B Com. (Hons.) with distinction 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. Business focus is on development of large scale residential projects.
2000 : Mr. Pankaj Bajaj forms a new company, Eldeco Infrastructure and Properties Ltd. (EIPL), under the chairmanship of Mr. S K Garg. EIPL's focus is to have projects in the NCR of Delhi.
2000-2004 : 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.
2005 onwards : Eldeco group expands rapidly with the integrated township format to Sonepat, Panipat, Ludhiana and Jalandhar. 2 Industrial Parks - 1200 acres in Sitarganj, Uttarakhand and 2500 acres multi product SEZ at Amravati, Maharashtra - in partnership with the respective State Industrial Development Corporation are tied up. FDI partnership is tied up for township projects in Lucknow and Jalandhar.