Dalmia Nisus Finance invests in Treasure Group’s Indore project
Dalmia Nisus Finance Investment Managers LLP has invested over Rs 25 crore in a premium plotted development project of realty developer Treasure Group through its Real Estate Credit Opportunities Fund – I (RECOF-I). The project, Treasure Hills, is being developed in Madhya Pradesh’s Indore and the investment has been made through the Rs 500 crore fund that primarily invests into structured credit and mezzanine investments across the residential space in India. “This 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,” said Amit Goenka, MD & CEO Nisus Finance.
“With around 30 million sq ft residential and commercial development, Treasure Group is among Central India’s established property developers.” The plotted development project is spread over 20 acres with total sale potential of 4 lakh sq ft with an average area of 800 sq ft-1,200 sq ft for each plot. “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,” said Vinayak Kalani, CEO, Treasure Group.
Dalmia Nisus is the joint venture fund of Nisus Finance headed by industry veteran Amit Goenka and the Dalmia Group, headed by Gaurav Dalmia. Treasure Group has developed residential townships and key commercial and retail assets in various micro markets of Indore. It has so far delivered projects spread over nearly 550 acres in Indore.
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