ASK unveils Rs.2,000-cr realty fund

In order to ensure sufficient fund flow to its mid-sized realty projects, ASK Property Investment Advisors (ASK PIA), the private equity arm of financial services company ASK Group, has decided to generate Rs.2,000 crore through its fifth real estate fund, said CEO and MD Amit Bhagat. He further added that the company will invest the proceeds in mid-segment and affordable residential projects across Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and the National Capital Region and it will also invest in return for equity across established suburbs and cities. In its entirety, the PE firm had raised a total of Rs.3,800 crore through its four funds. Last year, it generated Rs.1,400 crore via third domestic fund and only last month, the firm inked its maiden commercial realty deal by investing Rs.200 crore in a Noida project. In a related development, ASK Group is also planning to launch a non-banking financial company with Rs.100 crore and it will reach Rs.500 crore in the next 3-5 years, he said.

Published: 03 June 2017