Nisus Finance makes exit from Advaitha Ventures’ housing project in Bangalore

Nisus Finance & Investment Managers LLP, an alternative investment manager, has made a complete exit from its investment worth Rs 70 crore in an affordable luxury residential project of Advaitha Ventures in Koramangala locality of Bangalore.

Nisus Finance had invested in this project in February 2019 and the entire funding was repaid by the company through project accruals.

The deal is among few such instances as many large non-banking finance companies (NBFCs) and banks are finding it difficult to get a complete exit from their legacy investments in the real estate sector post Covid19 pandemic.

“We have enjoyed a very mutually beneficial working relationship with Advaitha Ventures Group… Our investment in this Project was uniquely structured to provide a superior return with the added safety of a strong asset based and brand of Advaitha along with a well-planned exit strategy. Our investors have generated a significant alpha due to the uniqueness of our structure and partnership,” said Amit Goenka, CEO Nisus Finance.

According to him, the project has outperformed the broader property markets as well as Nisus Finance’s expectations.

Nisus Finance had invested the amount in this residential project spread over 3.5 acres of land with a total sale potential of nearly 3.75 lakh sq ft.

The project, Advaitha Aksha, undertaken by Advaitha Ventures, has recently received its completion and occupation certificate from Bruhat Bengaluru Mahanagara Palike (BBMP) within two and half years of the investment made by Nisus Finance.

“The partnership with Nisus Finance has been very valuable to us as they bring immense understanding, sophistication and deep engagement with the real estate sector. Their participation has been the single most important factor making Avaitha Aksha a resounding success. We look forward to our continued partnership in future projects,” said Suresh Hegde, Chairman, Advaitha Ventures.

The project was completed and bulk of the inventory was sold despite the lockdowns and constraints of the pandemic over the past two years and the project’s performance has helped the developer provide a quick exit to Nisus Finance.

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