In a significant move to bolster the real estate sector, Nisus Finance and the government-backed SWAMIH Fund have announced a joint investment of over Rs 465 crore in two pivotal housing projects developed by Aliens Developers. This collaboration underscores the commitment towards addressing stalled housing projects, as initiated by Finance Minister Nirmala Sitharaman through the SWAMIH Fund.
The investments are part of the concerted efforts of the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I), managed by SBICAP Ventures, and Nisus Finance, a realty credit fund. Aliens Developers' projects, namely Aliens HUB and Aliens Space Station, located in key micro markets of Hyderabad, are the beneficiaries of this infusion.
Nisus Finance's focus on structured capital is evident in its Rs 145 crore investment across both projects, while the SWAMIH Fund has allocated Rs 320 crore specifically to the mid-income housing project, catering to over 2,000 homebuyers. Notably, this isn't the first collaboration between Nisus and SWAMIH, reflecting their mutual interest in fostering growth opportunities in the real estate domain.
"This investment is centric to our strategy in the fund to generate significant returns through a strongly risk mitigated structure with high asset and cash flow cover," stated Amit Goenka, Managing Director & CEO of Nisus Finance. The allocated funds will be utilized to take over loans previously held by Edelweiss, along with covering project expenses.
The investment portfolio of Nisus Finance includes holding a senior secured and exclusive primary security on the plotted development project, Aliens HUB, sprawling across 272 acres in the Chennaram locality. This township project boasts modern amenities including a golf course, with a projected revenue of over Rs 1,200 crores.
Meanwhile, SWAMIH Fund's investment in the mid-income housing project involves subscribing to rated debentures worth Rs 320 crore issued by Aliens Developers, listed on the Bombay Stock Exchange (BSE). The funds from both SWAMIH Fund and Nisus Finance will be channeled towards the completion of the project, promising fulfillment to over 2,000 eager homebuyers.
The infusion of Rs 465 crore into Aliens Developers' projects not only signifies a boost to the real estate sector but also reinforces the collaborative efforts of financial entities in propelling the completion of housing projects, thereby fulfilling the aspirations of homebuyers and stimulating economic growth.
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