ASK Property Investment advisors invests Rs 150 crore
ASK Property Investment Advisors (ASK PIA), part of the ASK Group, has invested total Rs 150 crore across 2 projects in Pune.
Of these investments, Rs 80 crore is deployed in Kumar Properties’ 8-lakh-sq-ft residential project and Rs 70 crore is invested in Naiknavare Developers’ 6-lakh-sq-ft residential project ‘Avon Vista’, ASK Property Investment Advisors said in a release.
The investment in Kumar Properties’ project is from the ASK PIA’s offshore fund, it has deployed money in Naiknavare Developers’ project from its recently launched ASK Real Estate Special Situations Fund-I (ASK RESSF-I).
Both these projects are expected to generate revenues of around Rs. 1,000 crore, the release added.
“At ASK Group, we take special care to minimize risk while delivering superior returns anchored on values of discipline, focus and synergistic approach aimed in achieving investor trust. An improvement in macro-economic conditions is likely to boost overall sentiments and confidence of homebuyers and drive the revival in residential demand,’’ said Sunil Rohokale, MD & CEO, ASK Group.
Kumar Properties’ project in Pune’s Hadapsar locality has over 600 units with 2-3 BHK configurations catering to the middle income segment in terms of ticket size. Naiknavare Developers’ project is a fully approved middle-income focused residential project in Balewadi-Mahalunge with over 500 units with similar configurations.
These investments are in line with ASK PIA’s strategy of providing flexible and patient capital to developers to ensure project execution.