Nisus and BCD raise Rs 4.5 billion for first real estate fund

19 Sep 2024 CW Team

Real estate credit fund Nisus Finance, in partnership with its sponsor and strategic partner BCD Group, has raised Rs 4.5 billion for its debut fund. The firm aims to complete the final fundraising for its Real Estate Special Opportunities Fund-1 (RESO-1) by the end of the current financial year.

"We are in the process of raising an additional Rs 1.5 billion and have received a strong response from both existing and new investors. There is a growing need for last-mile construction finance, with many projects still stuck in the completion phase," said Amit Goenka, Managing Director and CEO, Nisus Finance.

Nisus Finance has already invested Rs 4.5 billion across four deals through RESO-1, managed by Nisus BCD Advisors LLP, with a total corpus of Rs 7 billion. Recent investments include Rs 600 million via listed non-convertible debentures in the late-stage residential development Project High Cliff in Bengaluru, and approximately Rs 1.05 billion in Shapoorji Pallonji Real Estate's subsidiary, Suvita Real Estate, for a 12.16-acre land parcel in Pune's Manjari-Budruk locality.

The fund focuses on investing in mid-income, affordable housing, and plotted development projects, aiming to unlock value through capital in a special situation fund. "The fund targets an internal rate of return of 18-22% over a five-year period, with the option to extend for an additional two years. It focuses on generating substantial alpha while ensuring a well-mitigated risk profile and sufficient asset backing," Goenka added. (ET)

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..