New NBFCs set up realty verticals to tap demand for credit from developers

Fund managers such as ASK Group and Nisus Finance have set up or are setting up realty-focused NBFCs, to lend to the sector

Noting the demand for credit from realty developers, newly established non-banking finance companies (NBFCs) are setting up internal real estate sections and hiring senior executives to head these.

Recently, RattanIndia Finance (a joint venture between Lone Star, a global private equity and real estate investment company, and RattanIndia Group, set up by Rajiv Rattan, co-founder of Indiabulls), did this, hiring Anchit Lakhotiya, a senior executive from Altico Capital.

APAC Financial, an NBFC set up by Gunit Chadha, former chief executive of Deutsche Bank in the Asia-Pacific, similarly hired Sunteck Realty’s chief operating officer, Sumesh Mishra, to head its real estate