ASK Property Investment Advisors (ASK PIA), which is a private equity arm of financial services firm ASK Group, has announced investment worth Rs.150 crore across two projects in Pune, Maharashtra. Both these projects are expected to generate revenues of around Rs.1,000 crore of which investments of Rs.80 crore is deployed in Kumar Properties’ residential project (eight lakh sqft) and Rs.70 crore in Naiknavare Developers’ residential project Avon Vista (6 lakh sqft). While the former investment is from the ASK PIA’s offshore fund, the latter has been deployed from its recently launched ASK Real Estate Special Situations Fund-I (ASK RESSF-I). Kumar Properties’ project of over 600 units offering 2-3 BHK units caters to the middle income segment in terms of ticket size. According to Sunil Rohokale, MD & CEO, ASK Group, the company takes special care to minimize risk while delivering superior returns anchored on values of discipline, focus and synergistic approach aimed at achieving investor trust. An improvement in macro-economic conditions is likely to boost overall sentiments and confidence of home buyers and drive the revival in residential demand. On the other hand, Amit Bhagat, MD & CEO, ASK PIA, said that Pune continues to garner interest from several domestic and multinational companies to set up and expand operations in and around the city.
📅Published on:
24 January 2018
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