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 Manjari-Budruk locality of Pune. This funding is aimed at helping the Shapoorji Pallonji Real Estate Group in accelerating its assets in Pune within the mid-income affordable housing space.
The land has 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.
“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, MD & CEO of Nisus Finance.
Located in the eastern part of Pune, Manjri Budruk is one of the fastest-developing suburban localities of the city that has witnessed significant sales and value appreciation over the past three years, on the Pune-Solapur Road (National Highway 9).
“This investment is our collective vision for growth and sets the stage for future collaborations. We look forward to leveraging our strengths and expertise to create value in the real estate market,” said Venkatesh Gopalakrishnan, MD & CEO – Shapoorji Pallonji Real Estate.
The debentures are listed in the wholesale debt segment of the Bombay Stock Exchange.
This is the fourth investment made by Nisus Finance’s Real Estate Special Opportunities Fund-1in the last six months. The real estate-focused fund has a corpus of Rs 700 crore and is managed by Nisus BCD Advisors LLP. It makes opportunistic medium-term structured investments in mid-income, affordable housing, and plotted development projects.
Nisus Finance (NiFCO) is focused on identifying highly value-accretive opportunities within real estate projects, offering enhanced yields and robust asset cover to unlock substantial value through structured capital. These investments are selected for their profitability and risk mitigation, focusing on key micro-markets across seven major metros with short to medium investment tenures.
Shapoorji Pallonji Real Estate forms a significant segment of multi-business conglomerate, the Shapoorji Pallonji Group. It has so far developed over 19 million sq ft and has 28 million sq ft development under construction across key Indian cities including Mumbai, Pune, Bengaluru, Gurgaon, and Kolkata.
