Track2Realty: ASK Property Investment Advisors (ASKPIA), the real-estate private equity arm of ASK Group has announced its fifth investment from its second real estate fund. The project which will comprise of residential apartments is expected to have a sales value of around Rs.1000 crores.
The project is located on Sector 99A close to the emerging growth corridor of Dwarka-Gurgaon expressway. ASK Fund’s investment will be Rs.147 crores in the Special Purpose Vehicle set up for executing this project.
Speaking about this investment, Getamber Anand, CMD of ATS Group said, “This 11.5 acre land parcel is strategically located close to the expressway which is in close proximity to Delhi. We will continue to focus on execution and deliver superior quality product on time. This is our second project with ASK as private equity investor and it demonstrates comfort, understanding and confidence we have in each other.”
Commenting on this development Sunil Rohokale, CEO and MD, ASK Group said, “This is our second investment in NCR and second with ATS. We are committed to our existing partners who have delivered value to all stakeholders. We are committed to delivering superior risk adjusted returns to our investors by forging partnerships with prudent developers and adding value through risk and asset management.”
Amit Bhagat, CEO and MD, ASK Property Investment Advisors said, “We are very happy with our partnership with ATS group. Our confidence in ATS Group stems from the fact that ATS is able to fetch premium due to superior execution and delivery track record. This is the 12th investment from ASK private equity funds and fifth from 2nd fund.”
Amit added that Golf course Road and extension road micro market is in the range of Rs.12000/- 20000/-sqft and Southern Periphery Road has seen launches between Rs 7000/ sqft to Rs 10,000/ sqft. Proximity to Delhi, proximity to job market on NH 8, better planned infrastructure and affordability are key factors influencing interest of end users to Dwarka Gurgaon expressway.
ASK Group, which has emerged as a leading player in the Real estate Fund business manages domestic real estate funds of more than Rs 1,300 cr. This investment is a part of Rs 1,000 crore raised through the ‘ASK Real Estate Special Opportunities Fund’ in 2012. The Fund has already made four investments, two in Mumbai with Rajesh Builders and Godrej Properties and two in Bengaluru with Mantri Developers Private Limited and Shriram Properties.
