Real estate credit fund Nisus Finance, along with its sponsor and strategic partner BCD Group, has invested over Rs 105 crore in Shapoorji Pallonji Real Estate’s wholly-owned subsidiary, Suvita Real Estate, through senior secured listed non-convertible debentures (NCD). The investment has been made towards a land parcel of 12.16 acres in the Manjari-Budruk locality of Pune. This funding is aimed at helping the Shapoorji Pallonji Real Estate Group accelerate its assets in Pune within the mid-income affordable housing space.
Land parcel in Pune with potential for affordable housing
The land parcel in Pune has a potential to be developed as an affordable housing mixed-use township with a saleable area of over 2.1 million sq ft. This land parcel is part of a larger layout being developed by the Shapoorji Pallonji Group. Manjri Budruk, located in the eastern part of Pune, is one of the fastest-developing suburban localities of the city and has witnessed significant sales and value appreciation over the past three years.
Strategic vision and collaboration
“This investment perfectly aligns with our strategic vision for the RESO-1 Fund, aimed at generating significant alpha while maintaining a strongly risk-mitigated structure with ample asset cover,” said Amit Goenka, Managing Director & CEO of Nisus Finance. The investment and collaboration between Nisus Finance, BCD Group, and Shapoorji Pallonji Real Estate set the stage for future collaborations to create value in the real estate market.
More investments by Nisus Finance
This investment in Shapoorji Pallonji Real Estate subsidiary Suvita Real Estate is the fourth investment made by Nisus Finance’s Real Estate Special Opportunities Fund-1 in the last six months. Managed by Nisus BCD Advisors LLP, the real estate-focused fund has a total corpus of Rs 700 crore and makes opportunistic medium-term structured investments in mid-income, affordable housing, and plotted development projects.
