Real estate focused private equity fund ASK Property Investment Advisors (ASK PIA) has infused ₹350 crore into two Pune-based developers, Paranjape Schemes and Naiknavare with investment of ₹275 crore and ₹75 crore, respectively, to fund budget and affordable housing projects in the city. PE deals are the flavor of the season as the non-banking finance company (NBFC) crisis has meant crowding out of debt funds. PE allows developers a more free hand and the lure of dealing with fewer processes. On the flip side, developers have to pay a higher return in a shorter period, a significant part of which is passed to the end-user. ASK PIA banks mainly on investing in residential and commercial projects in established suburbs. The company has executed several deals in the last six months. MD & CEO, ASK Group, Sunil Rohokale, said that in Pune, ASK PIA has invested ₹758 crore in the last decade, mainly in residential projects, and has also extended funds to Kolte-Patil Developers.
📅Published on:
24 May 2019
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