Shriram Land - Nisus Finance(NiFCO) Invests Rs 30 cr in Shriram Land Development Projects
As Shriram Land is an old and a reputed brand in the construction business, I have full faith in their project which are going on in Bangalore and as the company was able to get investments for their development project by renowned financial company Nisus Finance Service (NiFCO), a real estate-focused fund, which has invested Rs 30 crore in residential projects being developed by Shriram Land Development in Bengaluru.
"Shriram Land has raised Rs 30 crore from Nisus to fund its residential projects at Anekal near Bengaluru," the company said in a statement today.
"This investment is in line with our strategy to back affordable housing and plotting projects that are customer-focused and promoted by credible groups," Nisus Finance Managing Director and CEO Amit Goenka said.
Shriram Land Executive Director Hemanth Vengali said, "NiFCO, with their integrated suite of financial services including investments, asset management, financial advisory, and market development have helped us in accelerating project delivery and sales."
Nisus Finance Services Co. Pvt. Ltd. (NiFCO) has invested Rs.30 crore in Bengaluru-based Shriram Land Development for funding its residential projects at Anekal, near Electronics City. The money was raised through the issue of non-convertible debentures. The projects involve developing residential plots and affordable apartments totaling a million sq. ft, according to a statement from the companies.
“This investment is in line with our strategy to back affordable housing and plotting projects that are customer-focussed and promoted by credible groups,” said Amit Goenka, MD, and CEO of Nisus Finance Services Ltd.
Goenka, who was former Chief Executive Officer of Essel Financial Services, had raised a residential focussed fund with a corpus of Rs 400 crore last year. The fund plans to invest in the real estate sector by subscribing to non-convertible debentures and by bulk-buying of inventory from developers at a deep discount.
“Investor interest and trust in our development has been adequately demonstrated in partnering with NiFCO. NiFCO, with its integrated suite of financial services including investments, asset management, financial advisory, and market development, has helped us in accelerating project delivery and sales,” Hemanth Vengali, Executive Director, Shriram Land Development said.
This brand has grown leaps and bounds from years of reputation and growth in the real estate business. The company was incorporated in the year 2003, and since then Shriram Land has been growing from strength to strength.
Today, the Company has made a mark in its chosen sector with several projects being launched across Bengaluru. They are committed to offering gated communities with state-of-the-art amenities in an eco-friendly environment that would satisfy & exceed all of its client's needs.
Shriram Land’s success can be attributed to the transparency in all its dealings, its customer-centric approach, uncompromising business ethics and commitment to quality in all its endeavors is the reason why I would love to rate this company the highest in security and quality of what they offer.
To know more on Shriram Land you can check the links below:-
https://www.crunchbase.com/organization/shriram-land-development-india
https://www.makaan.com/shriram-land-102829
https://www.makaan.com/bangalore/shriram-land-bageshri-in-hoskote-1906409
https://www.quikr.com/homes/builder/shriram-land 423