Nisus Finance’s Fund Exits Shapoorji Pallonji Real Estate Subsidiary with 18.74% IRR

Nisus Finance’s Fund Exits Shapoorji Pallonji Real Estate Subsidiary with 18.74% IRR

Nisus Finance’s Fund Exits Shapoorji Pallonji Real Estate Subsidiary with 18.74% IRR

Nisus Finance's Real Estate Special Opportunities Fund – 1 (RESO-I) has successfully exited its investment in a wholly-owned subsidiary of Shapoorji Pallonji Real Estate (SPRE), marking the fund's maiden exit with an impressive Internal Rate of Return (IRR) of 18.74%. In January 2024, RESO-I invested Rs 105 crore into senior secured rated listed non-convertible debentures (NCDs) issued by Suvita Real Estate, a subsidiary of SPRE. These NCDs were listed on the wholesale debt segment of the Bombay Stock Exchange.

The entire amount of NCDs was redeemed by the developer through internal accruals and capitalization by SPRE. The exit highlights Nisus Finance's investment process's strength and partnership with strong counterparties like SPRE. Amit Goenka, CMD of Nisus Finance, expressed confidence in the partnership, saying, "This investment and its timely exit are a testimony to the rigour of our investment process to back strong counterparties like SPRE through smart structured capital."

The investment was made in a 12.16-acre land parcel in Pune’s Manjri Budruk, intended to accelerate SPRE’s assets in the mid-income affordable housing sector. The land has the potential for a mixed-use township development, spanning 2.1 million sq ft. This exit marks the first success for RESO-I, a fund managed by Nisus BCD Advisors LLP, which focuses on highly value-accretive opportunities in real estate projects.

The RESO-I Fund of Nisus Finance targets highly profitable and de-risked projects across seven major metros, providing higher yields and asset cover through structured capital, aimed at unlocking value in special situations with short to medium investment tenures.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/