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dalmia Nisus Finance Investment Managers LLP, an Alternative Asset Manager Nisus Finance GroupHas invested over Rs 125 crore in two projects of the real estate developer Puranik Builders Through its Real Estate Credit Opportunities Fund-I.
residential projects-Rumah Bali And Tokyo Bay-Spread across a total of 30 acres with a cumulative development potential of over 3.2 million sq ft ThaneGhodbunder Road and Anand Nagar areas.
Dalmia Nisus is a joint venture fund of Nisus Finance Group led by industry veteran Amit Goenka and Dalmia Group led by Gaurav Dalmia. The investment has been made from a Rs 500 crore fund that primarily invests in structured credit and mezzanine investments in the housing segment in India.
“Our capital will help Rumah Bali and Tokyo Bay’s Puranik Builders to accelerate and complete further phases of their already successful projects,” said Amit Goenka, CEO, Nisus Finance. “Our investment will unlock value for all stakeholders in a short span of time including current and future home buyers who are looking to buy value from a reputed corporate developer.”
Rumah Bali adjacent to Ghodbunder Road is a large layout project spread over approximately 15 acres with a total development potential of 1.6 million sq.ft. The developer has already completed Phase I and II of the project. Currently, Phase III and Phase IV are under development with 0.7 million sq ft of salable area and the developer has sold over 50% of these phases.
Tokyo Bay is also spread over about 15 acres in Anand Nagar, with a total development potential of 1.6 million sq ft. The developer has already delivered Phase I in the project, while Phase II and III are currently under development with 0.8 million sq ft of salable area. And the developer has sold around 50% in these phases of the project as well.
Shailesh Puranik, Managing Director, Puranik Builders, said, “We are delighted to partner with Nissus Finance and Dalmia Nissus Fund, who have a deep understanding of the asset class, have faster completion and disbursement as their capital objective. “Our practices and data have stood the test of their diligence and this investment in our projects will delight customers as we accelerate and complete these landmark projects.”
Residential property developer Puranik Builders has so far delivered over 6.5 million sq ft across multiple micro-markets in Thane, Pune and Pune. Mumbai Metropolitan Region (MMR).
Nisus Finance Group manages a number of Alternative Investment Fund (AIF) funds, including RECOF-I, AIF Category-II Fund, a real estate-focused fund, which seeks to make opportunistic medium-term structured investments with superior, consistent and risk- Wants to get adjusted return. in medium income, affordable housing and plotted development projects.
Private equity investment in the real estate sector has continued to grow in the last few years and even in the last two years despite the pandemic scenario.
Appetite for Indian real estate property remains strong among institutional investors, both global and domestic, as they eye multiple investment opportunities across residential, mixed-use, commercial, retail, industrial and other sectors.
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