Nisus Finance Investment Consultancy FZCO, commonly known as NiFCO Dubai, is making waves in the real estate sector with its latest investment moves. As a fully-owned subsidiary of Nisus Finance Services Company Limited (NIFCO), it recently announced a substantial investment of Dh183 million in two properties situated in Dubai. But that’s not all—NiFCO is actively assessing the potential for an additional Dh669 million in investment opportunities across various locations.
The company is on a growth trajectory, aiming for a remarkable four-fold increase in its assets under management (AUM), which jumped 55% to Rs15.72 billion ($183.85 million) for the fiscal year ending March 31, 2025. This is a sharp rise from Rs10.12 billion ($118.35 million) reported in FY2024, with roughly 29% of this growth ($53.21 million) originating from its operations in the UAE.
In its quest to raise global capital for its UAE and India funds, NiFCO has engaged financial advisory firm M/S Houlihan Lokey. The company has already sanctioned $68 million (Dh250 million) for investments in Dubai and is in advanced discussions to secure another $200 million (Dh730 million) credit limit. This move is designed to further enhance its presence in the UAE’s burgeoning real estate market, which has become a focal point for high-growth investment.
According to Amit Goenka, Chairman and Managing Director of the Nisus Finance Group, NiFCO has already begun to unlock high-value opportunities in Dubai’s prime localities. “Having invested Dh183 million in two residential properties in Dubai, we see the potential to evaluate Dh669 million (Rs15.55 billion) in investments across multiple residential and commercial projects,” he notes. Strategic locations like Jumeirah Village Circle (JVC), Al Barsha, Sports City, and DIP are currently under review for further investment.
NiFCO’s financial performance reflects its ambitious agenda. The company reported a substantial year-on-year profit growth of 35.5%, reaching Rs325.8 million ($3.81 million) for FY2025. This was up from Rs240.5 million ($2.81 million) in FY2024, backed by a revenue surge of 65%, totaling Rs673 million ($7.87 million) compared to Rs430.4 million ($5.03 million) the previous year. This robust growth stems largely from its activities in the UAE, propelled by NiFCO Dubai.
Additionally, the total assets managed by NiFCO surged to Rs1.79 billion ($20.93 million), significantly up from Rs491 million ($5.74 million) in FY2024. Metrics like Return on Capital Employed (ROCE) reached an impressive 42.3%, while Return on Investment (ROI) stood at 33.3%, highlighting the firm’s strong financial health. The Revenue-to-AUM ratio was recorded at 4.3%, with Earnings per Share (EPS) peaking at Rs16.31 and Net Asset Value (NAV) per Share at Rs67.31.
The success extends beyond their current operations; last year, NiFCO made several high-profile exits, furthering its reputation in the investment landscape. Investments in Mumbai’s self-redevelopment project managed by Trilogy Developers yielded a notable IRR of 21%. NiFCO also unlocked value through its Real Estate Special Opportunities Fund (RESO), achieving an 18.74% IRR from a wholly-owned subsidiary of Shapoorji Pallonji Real Estate and 19% IRR from two projects in Bengaluru through its Real Estate Credit Opportunities Fund (RECOF).
“Our FY25 performance exemplifies the strength of our platform—efficient, profitable, and execution-driven,” Goenka emphasizes. Following its Initial Public Offering (IPO), the company is strategically positioned to accelerate its growth into FY26 and beyond. Key growth drivers include robust AUM expansion, revenue diversification, and a strengthened India-UAE team to enhance execution capabilities.
In the Indian market, NiFCO is evaluating investments worth Rs10 billion in high-growth cities such as Mumbai, Pune, Bengaluru, and Indore. This includes both performing credit and special situation opportunities. The overarching aim is to drive strong returns while managing risks through prudent market selections and diversification of assets.
Looking ahead to FY2026, NiFCO’s objective is ambitious: to achieve an impressive Rs40 billion ($467.81 million) in total income, while targeting total income ranging from Rs1.2 billion to Rs1.4 billion ($16.37 million). They are on track to evolve into a global asset manager, striving for an AUM of $1 billion by 2028 through innovative strategies designed to create multi-dimensional revenue streams.
Leveraging more than a decade of experience, NiFCO aims to capitalize on emerging market trends while consistently delivering superior risk-adjusted returns. Their expertise focuses on urban infrastructure financing and private capital market transactions, with a dual focus on Fund & Asset Management and Transaction Advisory Services.
The RESO fund has won accolades, receiving an ‘Excellent’ rating from Care Edge Advisory for its robust approach to diversified AIF funds and asset management. In December 2024, the company was newly listed on the BSE SME platform, signaling its strong growth and commitment to expanding its footprint in the financial landscape.
