Alternative investment firm Nisus Finance is planning to establish a ₹2,000-crore land fund this year, with an initial corpus of ₹1,000 crore followed by another ₹1,000 crore next year. According to reports from Business Standard, the company is also preparing to launch a small and medium real estate investment trust (SM Reit) platform worth ₹2,000 crore. While accelerating these land fund and SM Reit plans, Nisus is aiming to double its assets under management (AUM), which stood at around ₹1,900 crore as of the first half of FY26 across Dubai and India, by the end of this year.
As reported by Business Standard, Nisus is planning to scale up investments in Dubai, with plans to deploy nearly ₹16,000 crore there over the next 12 months, focusing on ready, rented, freehold assets across commercial, retail, residential and industrial segments. The firm's Dubai assets under management stood at over ₹1,000 crore (around $110 million) as of the first half of FY26. Goenka said the firm could scale up to $1.5 billion in assets before launching its next product, though supply constraints in Grade-A tenanted buildings could limit expansion.
According to Business Standard, for its land fund, Nisus will prioritise immediate developments such as warehousing, data centres, industrial parks and plotted development rather than townships. For its SM Reit plans, the firm will focus on small and medium enterprise (SME) office spaces and high-street retail, with the aim of giving access to high-quality but smaller assets to a larger investor pool. As reported by Business Standard, since one scheme under an SM Reit can only hold assets of up to ₹500 crore, Nisus will do maybe four schemes to get ₹2,000 crore of assets in the market over the next 24 months.
As reported by Business Standard, speaking about return expectations, Goenka said land funds tend to be in the 30% range in terms of internal rate of return (IRR). For SM Reits, the typical yield would be 8 to 10% with a certain growth in rent yields and cap rate compressions over time. Earlier, Nisus reported consolidated total income of ₹229.05 crore for Q3 FY26, with profit after tax for the quarter at ₹21.02 crore and Ebitda margin of 20.81% for the same period.