Nisus Finance Strengthens Pune Portfolio With Rs 900 mn Investment
Blue Ridge is a 150-acre township developed by Paranjape Schemes with thirty-three residential towers delivered to more than 6,000 families, three SEZs employing over 35,000 IT professionals and a range of commercial, educational and recreational facilities. Hinjewadi is one of Pune’s most established and high-demand residential micro-markets owing to proximity to IT hubs and robust social infrastructure. The micro-market continues to attract both first-time homebuyers and upgrade demand.
The project sits on one point zero nine acres of conveyed land and has a total saleable area of 0.402 million (0.402 mn) sq. ft. It comprises 188 units in three- and four-bedroom configurations with average areas of 1,300 and 1,700 sq. ft and has a gross development value of about Rs 3.7 billion (Rs 3.7 bn) with an expected operating surplus of around Rs 1.43 billion (Rs 1.43 bn).
The asset benefits from its location within an integrated township, improving approval visibility and providing steady end-user demand, which the company views as supportive of a disciplined, risk-adjusted return profile. The investment is structured to optimise capital protection while enabling participation in projects with disciplined underwriting and defined exit timelines.
RESO-I is a Rs 17 bn SEBI-registered AIF that targets projects with established cash flows, strong asset cover and short exit timelines to accelerate project execution and provide funding to credible developers. Nisus Finance said the transaction aligns with its strategy of partnering with established developers and investing in assets with strong cashflow visibility and downside protection. With this transaction Nisus Finance continues to strengthen its domestic real estate portfolio through selective investments in high-growth micro-markets.