Paranjape Schemes Secures ₹90 Crore from Nisus Finance for Premium Residential Tower at Blue Ridge Township, Hinjewadi Phase 1
Nisus Finance Backs Paranjape Schemes' Next Premium Tower at Blue Ridge
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, announced on May 18, 2026, reinforces Nisus Finance's confidence in the Hinjewadi market and Paranjape Schemes' delivery capabilities.
Project Specifics
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.
The new tower extends Blue Ridge's two-decade growth trajectory. 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.
Market Position and Finance Strategy
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.
RESO-I was launched in 2023 with the aim to provide solution capital for the $235 billion Urban infrastructure sector by capitalizing on special situation opportunities. The structure aligns with Nisus Finance's strategy of targeting established developers in growth corridors with proven execution track records.
Developer and Investor Commentary
Mr. Avadhoot Sarwate, CIO, Nisus Finance Services Co Limited, cited the association with Paranjape Group having a legacy of 35+ years and delivery track record of 2+ MN sq. ft. Dr. Amit Goenka, Chairman & Managing Director of Nisus Finance, noted: "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."
Paranjape Schemes' Track Record
Established in 1987 by Mr Shrikant Paranjape & Shashank Paranjape, the company has developed a diverse portfolio of real estate projects, including residential, commercial, hospitality, and SEZ projects. Paranjape Schemes has completed over 190 projects and built over 30,000 homes in Pune, Mumbai, Kolhapur, Ratnagiri, and Bengaluru.
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.
At the NDTV Property Awards 2015 ceremony held in Bangalore, Paranjape Schemes won an award for its project "Blue Ridge" under the category of "Best Township Project of India" for the year 2015.