ASK Group is planning to invest Rs 1500 cr in real estate projects

Q: Financial services arm ASK Group is planning to set up its equity investment in Indian real estate market this year.

Gautam G,

5th January 2016

Real estate News in Mumbai

real estate

ask group

mid-income housing projects

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But now, the comany's only intention is to focus on equity investment in mid-income housing projects with ticket price of apartments in Rs. 50-75 lakh bracket. The expect that the markets will remain float in this segment.

david.m,

5th January 2016

Comment

Right David,
And this time they are going to invest in 5-top cities of India - Delhi/NCR, Mumbai, Pune, Bengaluru and Chennai. They are in the process of raising about Rs. 1500 crore from domestic and offshore investors. And it is expected that this fund raising exercise would be completed in next one month.

sadhana,

5th January 2016

It also seen that in last 2 yrs.a lot of big-pocket institutional investors and large funds would start looking at Indian Real Estate because of counter cyclical opportunity.

ASK Group, through its real estate business, manages funds up to Rs 3300 crore and has committed over Rs 2000 crore in 19 projects.

david.m,

5th January 2016

Actually, the company is seeing good demand in mid-segment housing projects. Last year, the firm has invested more than Rs. 600 crore in 3 equity deals in real estate projects.

david.m,

5th January 2016

Comment

In its largest investment so far, ASK Group has invested Rs. 365 crore in a housing project of Rajesh Lifespaces at Vikhroli in Mumbai last month. Before that, the company had invested Rs. 125 crore with ATS Group in Noida project and Rs. 112 crore in Purvankara's Bengalury project.

Mritunjoy Deb,

5th January 2016