According to reports from Business Standard, Nisus Finance Services Co has announced plans to invest ₹90 crore in Paranjape Schemes' Hinjewadi project through its real-estate focused Alternative Investment Fund - Real Estate Special Opportunities Fund-I. The investment represents a significant commitment to the residential development project located in Pune's Hinjewadi area. As per Business Micro, the investment is structured to optimise capital protection while enabling participation in projects with a focus on disciplined underwriting and risk management.
As reported by Business Standard, the project involves a residential apartment tower being developed on 1.09 acres of conveyed land with a total saleable area of 4.02 lakh square feet. The development will feature 188 units with a diverse configuration including 3 BHK apartments averaging 1,300 square feet and 4 BHK apartments averaging 1,700 square feet. The project forms part of "Blue Ridge" - a 150-acre developed township by Paranjape Schemes (Constructions) Limited, located in Hinjewadi Ph 1. According to Business Micro, the township includes 33 residential towers already delivered to 6,000+ families, 3 SEZ with 35,000+ IT professionals employed, and modern amenities like a 9-pocket golf course and tennis courts.
Shrikant Paranjape, Chairman of Paranjape Schemes (Constructions) Limited, commented that the partnership with Nisus Finance was instrumental in achieving financial closure for this project. As per Business Micro, Dr. Amit Goenka, Chairman & Managing Director of Nisus Finance, highlighted that Hinjewadi remains one of Pune's most resilient residential micro-markets, backed by strong employment drivers and sustained housing demand. The investment reflects Nisus Finance's continued focus on partnering with established developers and investing in projects that offer strong cash flow visibility and inherent downside protection.
According to the reports, the project carries a gross development value (GDV) of approximately ₹370 crore and is projected to generate an operating surplus of around ₹143 crore. The asset benefits from its prime micro-market location within an integrated township, improving approval visibility and steady demand from end users. RESO-I, managed by Nisus BCD Advisors LLP, is a ₹1,700 crore SEBI-registered AIF focused on structured credit in special situation real estate, specifically targeting projects with established cashflows and projects with established cashflows.
