Dalmia Nisus Finance invests about Rs 80 cr in 2 realty projects


Nisus Finance has invested around Rs 80 crore in two projects in Chennai and Bengaluru being developed by Puravankara Ltd and Shriram Properties and is in process of closing three more investment of Rs 125 crore.

Nisus Finance Investment Managers LLP, an alternatives manager, has invested this amount from its Credit Opportunities Fund – I (RECOF – I).

Dalmis Nisus is the joint venture fund of Nisus Finance headed by industry veteran Amit Goenka and the Gaurav Group.

These maiden investments are part of the Rs 500 crore RECOF-1 Fund that primarily invests into structured credit and mezzanine investments across the residential space in India.

RECOF-1 fund had announced its first close in March 2020.

Gaurav Dalmia, Chairman, Advisory Board of the Fund said, “On a long-term risk adjusted basis, structured capital remains a very attractive asset class.”

Amit Goenka, Managing Partner and CEO of the Fund, said this is a unique time for capital pools to maximize on the opportunities within the real estate sector.

“We are excited about our investment with the Puravankara Group and Shriram Properties and believe that in the current environment, top deck players like these will continue to show extraordinary growth and performance,” he added.

“Our investments are uniquely structured to create a win-win with our investee while significantly mitigating idiosyncratic risks. Our investors will generate a significant alpha due to the uniqueness of our structure and partnership,” Goenka said.

The first transaction with Purvankara for a plotted development in Chennai, while the second one is towards Tanmathra Aquarelle Pvt Ltd’s new gated community project, being development managed by Shriram Properties Ltd.

This project, called Shriram Chirping Grove, is being developed by Shriram under a Development Management (DM) arrangement, for Tanmanthra.

Shriram Chirping Grove is a gated community project in South Bengaluru, was launched in May’21 and has received encouraging response with over 40 per cent of current phase sold already in less than two and half months.

M Murali, Chairman and MD, Shriram Properties, said, The partnership with Dalmia Nisus Finance has been valuable to us as they bring immense understanding, sophistication and deep engagement with the real estate sector especially in affordable and mid-market housing and also plotted development.”

The partnerships such as with Dalmia Nisus Finance will help accelerate the pace of our existing projects and sales, he added.

The fund is currently in the process of closing three more investments for Rs 125 crore in Mumbai, Pune and Bengaluru.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *