Dalmia Nisus Finance Investment Managers LLP (“Dalmia Nisus”), an alternative asset manager has recently invested ~INR 25 Crs in a premium plotting project being developed by Treasure Group of Indore - Treasure Hills located at Sindoda, Indore, MP, through their Real Estate Credit Opportunities Fund – I (RECOF-I).
Dalmia Nisus is the joint venture fund of Nisus Finance headed by industry veteran Mr. Amit Goenka and the Dalmia Group, headed by Mr. Gaurav Dalmia. This is the investment from the INR 500 Crs Fund that primarily invests into structured credit and mezzanine investments across the residential space in India.
Treasure Group is one of the first colonizers of Indore, who has a proven track record of developing residential townships and prominent commercial and retail assets in key micro markets of Indore, MP. The Treasure Group is rich in land banks and has delivered the projects of ~550 Acres in Indore. “Treasure Hills” is a plotted development project on a land parcel of ~20 acres with total sale potential of 0.4 Mn sq. ft. with an average area of 800 sq. ft. – 1200 sq. ft. for each plots.
Amit Goenka, MD & CEO Nisus Finance stated “We are glad to join hands with Treasure Group for their premier projects in Indore, catering to the vibrant mid-income plotted housing demand. With around 6 Decades of experience in the real estate sector and with around 30 Million sq. feet of residential and commercial development, Treasure Group is one among the biggest real estate developers of Central India. Our investment will unlock value of all stakeholders in a short period of time including current and future plot buyers who are looking at value purchase from a reputed corporate developer.
This also marks our foray into Tier II cities and non-megapolis locations, which are witnessing unprecedented demand and offer huge upside and returns to our investment portfolio”
Vinayak Kalani, CEO, Treasure Group added, “We are glad to partner with Dalmia Nisus Finance funds for our projects. Our project met their stringent diligence and risk parameters underscoring the governance, management, and potential at Treasure Group. This investment will accelerate our project and unlock value for all stakeholders in a short period. Indore, as a fast-developing metro, holds huge potential for AIF funds with the surge in demand and high per capita GDP growth”.
Nisus Finance Group manages several AIF funds aimed. RECOF – I, an AIF Category – II fund, registered with SEBI, with a corpus of INR 500 Cr is a real estate focussed fund which seeks to achieve superior, consistent and risk adjusted returns by making opportunistic medium term structured investments in mid-income, affordable housing and plotted development projects.
