Nisus Finance, in collaboration with BCD Group, has recently made a strategic investment in senior secured listed non-convertible debentures (NCD) issued by Suvita Real Estate, a wholly-owned subsidiary of Shapoorji Pallonji Real Estate. This investment, totaling Rs 105 crores, signifies the fourth venture of Nisus Finance’s flagship ‘Real Estate Special Opportunities Fund-1’ (RESO-1) managed by Nisus BCD Advisors over the past 6 months.
The debentures, listed on the wholesale debt segment of the Bombay Stock Exchange, are directed towards a 12.16-acre land parcel in Manjari-Budruk, Pune. The objective is to assist the Shapoorji Pallonji Real Estate group in accelerating its assets within the mid-income affordable housing space. The land has the potential for development as an affordable housing mixed-use township with a saleable area of approximately 2.1 million square feet. This parcel is part of a larger layout being developed by the Shapoorji Pallonji Group in the rapidly developing suburban locality of Manjri-Budruk on the Pune-Solapur Road.
Commenting on the development, Amit Goenka, MD & CEO of Nisus Finance, expressed, “This investment perfectly aligns with our strategic vision for the RESO-1 Fund, aimed at generating significant alpha while maintaining a strongly risk-mitigated structure with ample asset cover. We are delighted to collaborate with Shapoorji Pallonji Real Estate, known for its expansive real estate portfolio across major Indian cities.”
Venkatesh Gopalakrishnan, director of the group promoter’s office and MD & CEO of Shapoorji Pallonji Real Estate, stated, “We are thrilled to forge this partnership with Nisus Finance as it aligns with our commitment to delivering quality projects. This investment is our collective vision for growth and sets the stage for future collaborations.”
Angad Bedi, MD of BCD Group and a fund sponsor in the Nisus BCD ‘RESO-1’ fund, added, “Shapoorji Pallonji Real Estate is accelerating its cash flows across key projects with laser-sharp execution, delivery, and strategic intervention. This investment by our fund is a prime example of the SPRE leadership moving quickly to meet its capital objectives by unlocking significant value in a prime Pune project.”
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By Ravi Kumar
