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Nisus Finance Services Co Limited has successfully exited its self-redevelopment housing project, Vishwasangam, in Mumbai with an IRR of approximately 21 per cent. The company initially invested INR 22 crore in the Pestom Sagar area of Ghatkopar, partnering with two housing societies and Trilogy Developers. As the first institutional investor in a society-led redevelopment, Nisus Finance provided both financial and strategic support over several years. The project combined commercial and residential elements to offer affordable redevelopment. This achievement highlights significant real estate investment in India, demonstrating confidence in navigating regulatory challenges and limited institutional funding within Mumbai's evolving redevelopment market.
Nisus Finance Services Co Limited (BSE: NISUS | 544296 | INE0DQN01013) has successfully exited its investment in a self-redevelopment housing project in Mumbai, achieving an Internal Rate of Return (IRR) of approximately 21 per cent. The company had initially invested INR 22 crore in a self-redevelopment initiative located in the Pestom Sagar area of Ghatkopar. This project, named Vishwasangam, was undertaken by two neighbouring housing societies and was managed by Trilogy Developers, which acted as the Development Manager. Advertisement
The investment marked a significant milestone, as Nisus Finance became the first institutional investor to participate in a self-redevelopment project led by a housing society. The investment was made towards the end of 2022 and was structured for a full-term duration spanning several years. Throughout this period, Nisus Finance provided not only financial backing but also strategic support to ensure the project's success.
Vishwasangam was designed as an affordable self-redevelopment initiative, integrating both commercial and residential components. The development consisted of two floors dedicated to commercial shops, while the remaining seventeen floors were designated for residential apartments. By collaborating with Trilogy Developers, Nisus Finance aimed to support a growing segment of Mumbai's real estate sector, where societies are increasingly opting for self-redevelopment models to regain control over their housing projects.
In recent years, Mumbai has experienced a surge in redevelopment projects, with major real estate firms such as Prestige, Purvankara, and Godrej entering the market. However, institutional funding for such initiatives remains relatively limited due to systemic challenges and regulatory constraints that restrict banks from financing these projects. Despite these limitations, Nisus Finance's decision to invest in a self-redevelopment project demonstrated its confidence in the sector and its ability to navigate complex urban infrastructure financing.
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