July 24: Primus Senior Living and HDFC Capital have partnered to create a INR 2,000 crore platform, representing the largest institutional investment platform ever established in India’s senior living sector. The platform aims to accelerate the development of institutional-grade senior living communities across key Indian cities and help establish senior living as a mainstream asset class.
India’s senior population is projected to reach 346 million by 2050, driving a significant increase in demand for quality senior living solutions. Despite this growing need, the sector remains substantially underserved. The platform seeks to create age-friendly communities that promote health, wellness, social engagement and independent living for senior citizens.
The platform will develop assets across six major Indian cities through both ownership and rental-led formats, offering greater flexibility and accessibility to seniors seeking convenience, independence and community living without the commitments of home ownership.
Adarsh Narahari, Founder & Managing Director, Primus Senior Living & Marzi said,
“Primus is currently developing and operating senior living communities across India. We are witnessing strong demand from seniors seeking active, independent and community-oriented lifestyles. HDFC Capital brings deep expertise in housing, patient capital and long-term approach to sector building. Their conviction in the senior living opportunity reinforces our belief that this category is poised for significant growth and institutionalisation in India.”
Vipul Roongta, CEO, HDFC Capital said,
“The sector continues to face a shortage of long-term institutional capital for the development of purpose-built senior living communities despite favourable demographic trends. Through our partnership with Primus, we aim to build institutional-quality communities that support active ageing while establishing senior living as a scalable residential asset class in India.”
The investment builds on HDFC Capital’s strategy of being present across the entire spectrum of housing. Within HDFC Capital’s strategy of building scalable and professionally managed housing platforms, Senior Living is a key focus area along with student housing and industrial worker housing. India’s organized senior living sector remains significantly underserved, with penetration estimated at approximately 1.3%, compared with around 6% in more mature international markets. Rising life expectancy, nuclear family structures and greater geographic mobility among younger generations are driving demand for professionally managed senior living communities.