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ASK Property Investment Advisors announces initial closure of Rs 610 cr of its RE Fund

Mumbai, 30 May 2022: ASK Property Investment Advisors (ASK PIA) announced the initial closing of the Real Estate Fund (RESOF IV). This is the sixth real estate fund by ASK PIA. Over the last few years, private equity investments in income yielding commercial, Industrial, residential and data centres have increased significantly. 

Amit Bhagat, CEO & MD, ASK PIA said, “We have announced initial closure of more than Rs 610 crores (US $ 80 Mn), which will be invested in the established residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai. Domestic investors account for 50% of the real estate fund raised, while overseas investors account for the remaining 50%. We are targeting a fund size of Rs 2,000 Cr.” 

Sunil Rohokale, MD & CEO, ASK Group said, “The swift rebound, as indicated by a significant increase in sales velocity following the Covid period, has been very encouraging. We believe the residential market is already on a growth trajectory in 2022 and is likely to follow the same trend in the coming years. Selection of suitable developers, relevant micro markets and entry at the right price have always been our strength. Our portfolio projects have shown robust performance and witnessed y-o-y growth of more than 70% in sales value in FY2021-22. The average prices have risen by over 10% and this is likely to sustain given the increase in purchasing power in the segment.”  

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