India’s leading diversified financial services company, Nisus Finance (NIFCO), have announced its entry to the real estate sector of India by investing Rs 500 crores in delayed residential projects over the next three years. As per a senior company official, the group has planned to raise around Rs 700 crore from native investors, of which they have defined a particular amount to stalled assets.
Amit Goenka, managing director, and chief executive officer, Nisus Finance said, “Nearly 20-30 billion USD worth of real estate assets are under stress. These are largely good assets and we see them as a huge opportunity to provide finances and make good returns,”
He further added that the company will invest around Rs 30-50 crore in each identified project. Also, they will be investing with those developers who have a minimum of one lakh sq ft of development as they have the capacity to take it to 10 lakh sq ft over the period.
The group has already zeroed in projects across Mumbai, Noida, Bengaluru, and Pune. According to sources, around three projects have been identified by the group in Greater Noida (West) which is one of the rapidly growing real estate markets in Noida.
Apart from this, three other projects have been chosen in key areas of Mumbai, namely Andheri, Dadar and Goregaon which are rated as plush zones of Mumbai. Projects located here will also generate high returns in the near future. Moreover, one project has also been identified in Pune and Bangalore both.
NIFCO is a real estate investment firm that offers an integrated suite of financial services including investment banking, asset management, lending and realty development to institutional and individual investors.