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Nisus Finance to infuse Rs 500 cr in distressed realty projects

Monday, 03 Aug 2020
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Nisus Finance, a debt fund focused on real estate, is planning to infuse Rs 500 crore from its second platform by March 2021 for completing housing projects and acquisition of distressed assets.
Nisus Finance had launched its first fund named 'Real Estate Asset Performance Fund 1' totalling Rs 430 crore, which was invested across nine projects.
In March 2020, the company announced first closure of its Rs 500 crore real estate fund. The new fund is in partnership with the Dalmia Group.
The two partners have committed Rs 100 crore in this fund, while Rs 400 crore is being committed from HNIs and family offices.
The new fund from Dalmia Nisus Finance of Rs 500 crore is under deployment and the company intends to employ this capital by March 2021. The fund is investing across three key strategies.
The first towards mid-income and affordable housing projects in key micro markets of major metros in India. Such projects need last mile capital for completion and already have reasonable sales. With internal accruals slowing down, developers are shoring up cash to accelerate completion and sales.
Secondly, the fund will target distressed opportunities where there is significant intrinsic value but needs new capital and a development partner.
Thirdly, the fund will also explore balance sheet financing for Tier-1 developers who are consolidating the sector through JV/JD/DM or acquisition models.
These are highly value accretive strategies with the current pandemic that new money can capitalise on and earn high-risk adjusted returns.
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