Nisus Finance Services, a leading start-up alternatives managers had invested Rs 30 crore in Shriram Land Development.
Bengaluru-based Shriram Land Development, has raised the capital from investors of NiFCO to fund its residential projects at Anekal near Electronic City. The total development comprises of residential plots and affordable apartments totalling to a million sft.
Hemanth Vengali, Executive Director, Shriram Land Development said, “Investor interest and trust in our development has been adequately demonstrated in partnering with NiFCO. NiFCO, with their integrated suite of financial services including investments, asset management, financial advisory and market development have helped us in accelerating project delivery and sales. The product mix of small ticket investments in affordable housing and plotted development, from a renowned brand is otherwise not available in Bengaluru; which is why our projects continue to outperform the market.”
The Projects called ‘Shriram Hamsadhwani’, comprises of plotted developments, and ‘Primrose’, an affordable housing development, has demonstrated strong customer demand. Amit Goenka, MD & CEO NiFCO said, “This investment is in line with our strategy to back affordable housing and plotting projects that are customer focussed and promoted by credible groups.”
Bhaskar Baroi, Chief Investment Office, NiFCO, said “Shriram Land is the perfect fit within our fund strategy. They have demonstrated integrity, professionalism, commitment and financial discipline which meet all of our risk and investment parameters. They are poised for fast growth with their unique capabilities to cater to affordable segments.”