Connect with us

News

ASK Property Fund announces exit from Gulshan One 29 with an IRR of 21%

Mumbai, November 21, 2022: ASK Property Fund (“ASK”), the real estate private equity arm of the ASK Group, announced its exit from Gulshan Homz’s project, Gulshan One29 in Noida. An investment of ₹125 cr. was done in September 2020 and has achieved an Internal Rate of Return or IRR of 21%. 

Amit Bhagat, CEO & MD, ASK Property Fund said, “We realised the counter cyclical opportunity in the market for investment in 2020 and accelerated our efforts for identifying opportunities. Noida has been a preferred market for us since 2010 since it has a strong job corridor and is supported by good physical and social infrastructure. Gulshan’s focus on execution and customer service were the key parameters for us to partner with them during tough times.”

Deepak Kapoor, Director, Gulshan said, “Covid time was challenging, but the ASK team has an excellent understanding of Noida market, which was reflected in their approach to investment. The patient capital with focus on completion helped us through the most difficult period. I am optimistic that we will have many more possibilities to collaborate.” 

About ASK Property Fund | ASK Property Fund, [Registered entity: ASK Property Investment Advisors Pvt. Ltd. (ASK PIA)] is the alternate asset investment arm of the ASK group set up to manage and advise real estate dedicated funds. The focus is on private equity investments in self-liquidating mid-income & affordable residential and commercial segments. ASK PIA has raised around ₹5,000 cr (US$ 800 mn) since 2009 and investors include Family Offices, Ultra High Net Worth Individuals (UHNI), High Net Worth Individual (HNI) and Institutions.   

About ASK Group | ASK is a leading player in the asset & wealth management business and primarily caters to the HNI and UHNI market with over three decades of presence. ASK has been a true believer in the Indian growth story and over the years has grown hand-in-hand with its clients across the globe. ASK is represented in India through its three key businesses: Portfolio Management Services & Alternative Investment Funds – ASK Investment Managers Ltd.; Real Estate Private Equity – ASK Property Fund; and Wealth Advisory and Multi-Family Office Service – ASK Private Wealth. It has over 25 offices and branches across India, Dubai, and Singapore. It caters to multiple asset classes and investors (such as HNI, institutional, family office, pension funds, funds of funds and sovereign wealth funds) across Asia, the Middle East, Africa, and Europe. ASK group manages assets over ₹ 79,000 cr (US$ 9.55 bn). 

Latest News

News9 hours ago

UP Real Estate Appellate Tribunal’s “Online Justice Delivery System” awarded for Innovative Technology for Smart Governance by Computer Society of India

U.P. Real Estate Appellate Tribunal’s “Online Justice Delivery System” has been awarded for Innovative Technology for Smart Governance and selected...

News1 day ago

52% NRIs see Indian commercial properties emerging as a new asset class

The Indian real estate segment demonstrates an upward trajectory with the projection to exhibit a growth rate of 9.2% CAGR...

Guest Column1 day ago

Welspun Gp acquires Sintex BAPL

Mumbai, March 30, 2023: Welspun Group has acquired the plastic industry market leader, Sintex.  Sintex’s auto business already has a...

New Launches1 day ago

Naiknavare Developers launches Avasa, new vertical of structured plots; commences e-commerce platform designed for plotting

Pune, March 30, 2023: Naiknavare Developers, renowned for its well-thought-out community-centric residential and commercial projects in Pune, Mumbai, and Goa, today announced it...

News1 day ago

Residential demand up 14.2%, supply grew 1.9% YoY: Magicbricks PropIndex Report, Jan-Mar’23

New Delhi/Noida, March 30, 2023: Continuing on the path of resilience and overall growth, India’s residential demand increased 14.2% and...

News1 day ago

Mahindra Life transacts with Alliance Gp for 9.24 acres at Mahindra World City, Chennai

New Delhi, March 29, 2023: Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development business of the Mahindra...

Trending