ASK invests Rs 147 cr in a Gurgaon residential project
Real Estate

ASK invests Rs 147 cr in a Gurgaon residential project

In Gurgaon, ASK Property Investment Advisors, the real-estate private equity arm of ASK Group, has made an investment of Rs 147 crore in a residential project of ATS group. This will be the fifth investment from its second real estate fund, raised in 2011-12. The homegrown real estate fund is in the midst of raising $200 from the overseas market to invest in real estate projects that meet the norms for foreign direct investment.

The proposed fund will be the first overseas fund that will be raised under Singapore Domicile Fund, Amit Bhagat, CEO and MD of ASK Property Investment Advisors said. The investment of Rs 147 crore in ATS group will be through structured instruments that will ensure 30 per cent economic interest in the project that has saleable value of Rs 1,000 crore. Sunil Rohokale, CEO and MD of ASK Investment Managers said that this is the company's second investment in NCR and second with ATS.

This 11.5 acre land parcel is strategically located close to the expressway which is in close proximity to Delhi. The company will continue to focus on execution and deliver superior quality product on time, Getamber Anand, CMD of ATS group said.

In Gurgaon, ASK Property Investment Advisors, the real-estate private equity arm of ASK Group, has made an investment of Rs 147 crore in a residential project of ATS group. This will be the fifth investment from its second real estate fund, raised in 2011-12. The homegrown real estate fund is in the midst of raising $200 from the overseas market to invest in real estate projects that meet the norms for foreign direct investment. The proposed fund will be the first overseas fund that will be raised under Singapore Domicile Fund, Amit Bhagat, CEO and MD of ASK Property Investment Advisors said. The investment of Rs 147 crore in ATS group will be through structured instruments that will ensure 30 per cent economic interest in the project that has saleable value of Rs 1,000 crore. Sunil Rohokale, CEO and MD of ASK Investment Managers said that this is the company's second investment in NCR and second with ATS. This 11.5 acre land parcel is strategically located close to the expressway which is in close proximity to Delhi. The company will continue to focus on execution and deliver superior quality product on time, Getamber Anand, CMD of ATS group said.

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