VMPL
Pune (Maharashtra) [India], May 18: Paranjape Schemes (Construction) Ltd., a legacy developer known for pioneering new-age residential formats has announced a strategic investment partnership with Nisus Finance. Through its Real Estate Special Opportunities Fund-I (RESO-I), Nisus Finance will invest INR 90 crore in Realnet Ventures Private Limited towards the development of a premium residential tower at Paranjape Schemes' landmark Blue Ridge township in Hinjawadi Phase 1, Pune.
The investment will support the development of a premium residential tower within "Blue Ridge", Paranjape Schemes' landmark 150-acre integrated township located in Hinjawadi Phase 1, Pune. Over the years, Blue Ridge has evolved into one of Pune's most established mixed-use townships, with 33 residential towers delivered to more than 6,000 families, three operational SEZs employing over 35,000 IT professionals, commercial establishments, educational infrastructure, and modern lifestyle amenities including a 9-hole golf course, basketball and tennis courts.
The upcoming residential development will be constructed on 1.09 acres of conveyed land and comprise 188 premium residences across 3 BHK and 4 BHK configurations, with a total saleable area of approximately 4.02 lakh sq. ft. The project has an estimated Gross Development Value (GDV) of around INR 370 crore.
Located in Pune's thriving IT corridor, Hinjawadi continues to witness sustained demand from homebuyers driven by strong employment hubs, improving infrastructure, and increasing preference for integrated township living. The demand for larger homes and lifestyle-led residential communities has further strengthened the appeal of developments such as Blue Ridge.
Commenting on the Development, Mr. Avadhoot Sarwate, CIO, Nisus Finance Services Co Limited said, "Association with Paranjape Group having legacy of 35+years and delivery track record of 2+ MN sq. ft. in different micro markets of India. Investment by Nisus Finance in their flagship township where all infrastructure is already in place schools, commercial spaces, modern amenities, a golf course, tennis courts. The existing development of 1BHK/ 2 BHK residential units and the growing demand of the consumers for larger homes in recent macro-economic changes suggest strong demand for the product that is being offered through this Project. With deep managerial capabilities, professional team, proven delivery record, strong presence in Pune, for Nisus Finance, this checks every box of a disciplined, risk-adjusted investment."
Shrikant Paranjape, Chairman, Paranjape Schemes (Constructions) Limited, commented, "We're thrilled to be partnering with Nisus Finance and their involvement was instrumental in achieving financial closure for this project. The confidence Nisus Finance placed in this project and in the Paranjape Group, their structured approach and deep understanding of real estate fundamentals gave us exactly the financial certainty we needed to move forward with conviction. With Nisus Finance as our financial partner, we are well-positioned to deliver this project to the highest standard."
Commenting on the investment, Dr. Amit Goenka, Chairman & Managing Director, Nisus Finance, said: "Hinjawadi remains one of Pune's most resilient residential micro-markets, backed by strong employment drivers and sustained housing demand. Our investment with the Paranjape Group reflects our continued focus on partnering with established developers and investing in projects that offer strong cash flow visibility and inherent downside protection. This transaction aligns well with our strategy of identifying high-quality residential assets in growth corridors with robust end-user demand."
The investment further reinforces Paranjape Schemes' continued focus on expanding thoughtfully planned urban communities that combine residential, commercial, and social infrastructure within integrated developments.
About Paranjape Schemes (Construction) Limited
Paranjape Schemes (Construction) Ltd. (PSCL), established in 1989 in Pune, is one of India's leading real estate developers with over 35 years of legacy. The company has delivered 200+ residential and commercial projects across nine cities including Pune, Mumbai, Bengaluru, and Vadodara, spanning over 20 million sq. ft. of development and serving more than 75,000 residents. Over the decades, PSCL has built a strong reputation for timely delivery, quality construction, and enduring customer relationships.
PSCL is widely recognised for pioneering large-scale integrated townships such as Blue Ridge and Forest Trails--master-planned environments that seamlessly integrate housing, social infrastructure, open spaces, recreational amenities, retail, and community facilities. These developments are designed as self-sustained ecosystems that foster connectivity, convenience, and community living.
Beyond mainstream residential and commercial real estate, the company has led the way in purpose-driven living formats, including Athashri (senior living communities), Aastha (assisted living), and Swaniketan, India's first residential ecosystem designed for differently-abled individuals and their families. Through these initiatives, PSCL reinforces its philosophy of "Building for All," with a continued commitment to inclusive, sustainable, and future-ready communities under the leadership of Shashank Paranjape and the second generation of the organisation.
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