From SME Partner to Global Player – Nisus Finance’s $1 Billion AUM Ambition
Inside the strategy driving its shift from transaction advisory to a diversified, high-margin lending and asset management platform.
Company overview
Nisus Finance is a non-banking financial company (NBFC) focused on providing structured debt, last-mile funding, and capital solutions primarily to India’s real estate sector. Incorporated in 2010 and backed by a seasoned management team with experience in real estate finance, the company targets niche, under-served opportunities where traditional lenders are either absent or slow.
It operates as a specialized real estate financier with an emphasis on project completion funding (especially stalled or delayed residential projects) and structured credit to developers. Unlike retail-oriented NBFCs, Nisus works mainly on the wholesale lending side, partnering with mid-tier developers and select large builders in tier-1 and emerging urban markets.
The company went public in FY25 via IPO, raising growth capital and enhancing brand credibility in the capital markets. Since listing, it has grown its Assets Under Management (AUM) rapidly while maintaining strong returns; FY25 ROE of ~33% and ROCE of ~39.7%. It positions itself as an “asset-backed, high-yield credit platform” with an active asset monitoring framework to mitigate risks in a cyclical sector.
Business segments
1. Transaction Advisory Services (67%)
This segment focuses on structuring and executing real estate transactions for developers, institutional investors, and corporates. Services include outright sales, joint ventures, capital structuring, warehousing and land aggregation, and asset monetization for both residential and commercial properties. In FY25, Transaction Advisory contributed ₹45.1 Cr, accounting for 67% of total revenue, driven by strong execution across India (69% of total revenue) and the UAE (31% of total revenue).
2. Fund & Asset Management (33%)
This segment manages domestic and offshore real estate and urban infrastructure investments for institutional LPs, family offices, and UHNI clients through four active schemes. It specializes in special situation funding, structured investments, and asset-backed lending, generating income from recurring management fees, performance carry, and NBFC lending interest. In FY25, Fund & Asset Management contributed ₹22.2 Cr (33% of revenue) and managed an AUM of ₹1,572 Cr, highlighting its growing scale and stable income visibility.
Financials
Future Outlook
Scaling NBFC Lending
Post-IPO, the company has shifted its revenue mix toward own-balance-sheet lending. Management plans to grow the loan book aggressively within a collateral-backed, structured-debt framework, targeting both mid-tier and large developers.AUM Expansion
From ₹1,572 Cr in FY25, management expects sustained growth through both domestic and offshore funds, driven by new schemes and greater institutional investor participation. The company aims to achieve $1 billion AUM and become one of the notable players in the global market by the end of 2028.Product Mix Evolution
Focus on increasing the share of recurring interest and management fee income versus one-time advisory fees, creating steadier cash flow visibility and reducing dependency on transaction volumes.Operational Leverage
With a relatively fixed-cost advisory and asset management setup, incremental growth in AUM and lending volumes is expected to support margin resilience and maintain high ROCE/ROE.
Risk & Strengths
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