Nisus Finance Services Co Limited announced an investment of Rs 90 crore (Rs 900 million, Rs 900 mn) through its Real Estate Special Opportunities Fund-I, known as RESO-I, in Realnet Ventures Private Limited, a wholly owned subsidiary of Paranjape Schemes (Constructions) Limited. The transaction forms part of the Blue Ridge township in Hinjewadi phase one and is positioned within a developed mixed-use enclave that underpins the financing rationale.

Blue Ridge spans 150 acres and comprises residential, commercial and institutional components, with 33 residential towers already delivered to more than 6,000 families. The township includes three special economic zones employing in excess of 35,000 IT professionals, schools, commercial establishments and township-level amenities such as a nine pocket golf course, basketball and tennis courts, which support sustained end-user demand in the micro-market.

The project is a residential apartment tower on 1.09 acres of conveyed land with a total saleable area of 0.402 million sq. ft. (0.402 mn sq. ft.). It comprises 188 units configured as three BHK units with an average area of 1,300 sq. ft. and four BHK units with an average area of 1,700 sq. ft. The project has a gross development value of about Rs 370 crore (Rs 3.7 billion, Rs 3.7 bn) and is expected to generate an operating surplus of approximately Rs 143 crore (Rs 1.43 billion, Rs 1.43 bn).

The investment was described by the manager as aligned with a disciplined, risk adjusted strategy that benefits from strong approval visibility, integrated infrastructure and steady end-user demand in Pune. RESO-I, managed by Nisus BCD Advisors LLP, is a Rs 1,700 crore (Rs 17 billion, Rs 17 bn) SEBI-registered alternative investment fund focused on structured credit for special situation real estate. Nisus Finance said the transaction supports selective portfolio building in high growth micro-markets and seeks to optimise capital protection while enabling project delivery.