SWAMIH, Nisus Finance invest Rs 465 crore in two housing projects of Aliens Developers

Government-backed and SBICAP Ventures-managed last-mile financing platform, SWAMIH I and realty credit fund Nisus Finance have invested a total over Rs 465 crore, across two projects of Aliens Developers.

The project, Aliens HUB, is a large-scale plotted development project, while the second project, Aliens Space Station, is a mid-income housing project, both located in Hyderabad, Telangana. Both SWAMIH Fund and Nisus’ investment in the latter project will be utilised for the completion of the project. Nisus has invested Rs 145 crore in both the projects and SWAMIH Fund has invested Rs 320 crore in the residential project with over 2,000 homebuyers.

Nisus has invested the amount through its Real Estate Special Opportunities Fund-I (RESO-I), managed by Nisus BCD Advisors. The Nisus BCD Fund will hold a senior secured and primary security on the plotted development project on the developer’s owned land spread across 272 acres in Chennaram locality. The project is a township with a golf course and other modern amenities. The township has a total 2,400 plots with an average area of 2,700 sq. ft. with an estimated topline of over Rs 1,200 crore.

Nisus Finance is in cash flow sharing for the second project spread over 15 acres with a saleable area potential of 3.4 million sq. ft. across 13 high-rise towers in Tellapur locality of the city. The project is nearly 70 percent completed. The project for which Nisus has partnered with SWAMIH Fund for investment, has a total revenue potential of Rs 2,200 crore.

Nisus Finance makes opportunistic medium-term structured investments in mid-income, affordable housing, and plotted development projects. In December 2022, the government invested over Rs 5,000 crore in this fund, taking its final value to nearly Rs 15,530 crore.