ASK Property Investment Advisors, the real estate non-public equity arm of financial offerings group ASK, has invested Rs 326 crore ($forty seven million) across projects of QVC Reality Developers, Tridhaatu Realty and TVS Emerald, that is part of the TVS Group.
These projects are placed in Mumbai, Bengaluru, Chennai and National Capital Region (NCR), a statement by means of ASK Group stated, including that the investments are in line with the fund’s approach of specializing in hooked up builders’ residential tasks in the pinnacle five towns.
“Liquidity crunch of NBFCs/HFCs (non-banking financial companies and housing finance businesses) has elevated the consolidation system, benefitting reputed builders. Right-sized, proper-priced undertaking launches focused on the mid-segment have seen boom in absorption,” stated Amit Bhagat, managing director and leader running officer, ASK Property Investment Advisors. He brought, “Lack of re-financing for builders has drastically increased the deal go with the flow for personal fairness.’’
Sunil Rohokale, handling director and chief running officer, ASK Group, stated, “These investments re-verify ASK Group’s robust perception in demand revival inside the residential real property marketplace, which has passed through structural adjustments like GST rollout (Goods and Services Tax) and implementation of RERA (Real Estate Regulatory Authority) inside the modern regulatory regime.”
ASK Property Investment Advisors raised its first home fund of Rs 326 crore under tough marketplace conditions inside the length from March 2009 to December 2009. It raised a 2d domestic fund of Rs 1,000 crore in 2011 and a 3rd home fund of Rs 1,400 crore in 2016. ASK Group has additionally raised Rs 500 crore ($eighty two million) for its maiden offshore fund. The business enterprise has also raised established debt of over Rs 575 crore for a number of the maximum reputed and financially prudent developers which can be absolutely prepaid. It had also announced a final near for its established equity fund of Rs 898 crore in March 2018.
In 2017, ASK Group had one at a time announced that ASK Property Investment Advisors and TVS Emerald Haven Realty Ltd, the actual estate arm of TVS Motor Company, had partnered every different to set up a Rs 400 crore actual property investment platform focused on mid-profits housing and cheap housing.
ASK Group is working on its preliminary public offering and is expected to get listed soon. It offers offerings throughout wealth advisory and multi-circle of relatives office carrier as well as portfolio management services – real property and personal fairness.
Recently, ASK Group set up an NBFC and employed Maneesh Yadav, former chief government of Aditya Birla Real Estate Fund, to go it.
In real property investments, ASK Group sponsored a group of projects of southern real property developer Shriram Properties and also created a platform with the developer.
ASK Group had additionally backed a business-led development of ATS Group, marking its first funding within the industrial space.