Pune, Maharashtra | May
18, 2026 : 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.