This is the first instance of a joint investment by Nisus BCD and Phoenix ARC in the same transaction.The investment will help Nisus Finance and Phoenix ARC take over the project and exit the loans of the erstwhile lender DHFL through Piramal Capital & Housing Finance.Nearly 80% of the project is complete and has all approvals in place, with balance construction is on and the project delivery is scheduled within 12 months.The group owns several land parcels across key cities of Gujarat and is foraying into the Mumbai market.Nisus has recently launched the RESO-I fund with a corpus of Rs 700 crore.
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