In addition, nearly Rs 5,000 crore of private capital is seeking exit due to end of tenure in such late stage projects,” said Amit Goenka , MD at Nisus Finance.Nisus Finance has been focusing on last-mile funding having foreseen the emergence of this situation in early 2015 through its Alternative Investment Fund. Over the past two years, Nisus Finance has deployed nearly Rs 170 crore in late stage projects of Shriram Land, MidCity and Earthcon. Each of these firms has built a track record in conventional environments. The new capital helped propel their projects towards completion, sales and collection, said Goenka.Developers are looking to raise last-mile funding to rapidly complete projects, handover apartments to buyers and reap profits within a short period of time. It’s a good thing as more assets are getting completed, which benefits all the stakeholders including developers, home buyers and financiers.

Source: Economic Times May 28, 2018 03:00 UTC