In a strategic move aimed at bolstering its presence in Pune's burgeoning real estate market, the Nisus BCD Fund, in conjunction with its sponsor and strategic partner BCD Group, has announced a significant investment exceeding Rs 105 crore in Suvita Real Estate, a wholly-owned subsidiary of Shapoorji Pallonji Real Estate.
The substantial investment has been channeled through senior secured listed non-convertible debentures (NCD) and is earmarked for a sprawling land parcel spanning 12.16 acres in the Manjari-Budruk locality of Pune. This funding injection underscores Nisus Finance's commitment to aiding Shapoorji Pallonji Real Estate Group in accelerating its footprint in Pune's mid-income affordable housing segment.
The prime land parcel holds immense potential for development into an affordable housing mixed-use township, boasting a saleable area exceeding 2.1 million square feet. Notably, this land forms part of a larger layout being meticulously developed by the Shapoorji Pallonji Group.
Amit Genka, Managing Director & CEO of Nisus Finance, expressed enthusiasm about the investment's alignment with the strategic vision of the RESO-1 Fund, emphasizing its potential to generate significant alpha while upholding a robustly risk-mitigated structure with substantial asset cover.
Situated in the eastern fringes of Pune, the Manjri-Bunjri-Budruk locality has emerged as one of the city's fastest-developing suburban areas, witnessing notable sales traction and value appreciation over the past three years, notably along the Pune-Solapur Road (National Highway 9).
Venkatesh Gopalakrishnan, representing the collective vision of the stakeholders, hailed the investment as a pivotal step towards future growth and collaboration, affirming their commitment to leveraging their respective strengths and expertise to create enduring value in the dynamic real estate landscape.
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