Nisus Finance (NIFCO), India’s leading diversified financial services companies have forayed into the realty market of India and announced to invest Rs 500 crores in stressed projects over the next three years. According to a top company executive, the group has planned to raise around Rs 700 crore from domestic investors, of which they have demarcated a particular amount to stalled assets.
It is also said that the group has already zeroed in projects across Mumbai, Noida, Bengaluru, and Pune.
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 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.
According to company sources, around three projects have been identified by Nisus Finance 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 by the group in key areas of Mumbai, namely Andheri, Dadar and Goregaon which are known as plush zones. Projects located here will also generate high returns in the near future. In the same manner, one project has been identified in Pune and Bangalore both.
NIFCO offers an integrated suite of financial services including investment banking, asset management, lending and realty development to institutional and individual investors.