ASK Property Investment Advisors invests 326 Crore
ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group has sealed deals worth Rs. 326 cr with QVC Reality Developers, Tridhaatu Reality and TVS Emerald part of TVS Group. These projects are located in Mumbai, Bengaluru, Chennai and NCR. These investments are in line with the fund’s strategy of investing in residential focused real estate projects in the top five cities with established developers. ASK PIA follows rigorous partner selection criteria that entails quality, experience, track record and reputation.
Amit Bhagat, MD & CEO, ASK Property Investment Advisors (ASK PIA) said, “Liquidity crunch of NBFCs/HFCs has accelerated the consolidation process benefitting reputed developers. Project launches with right sized, right priced focused on mid-segment have seen growth in absorption. Lack of refinancing to developers has considerably increased the deal flow for private equity.’’
Speaking on the announcement, Sunil Rohokale, MD & CEO, ASK group said, “These investments reaffirm ASK Group’s strong belief in demand revival in the residential real estate market which has undergone structural changes like GST and implementation of RERA in current regulatory regime. The sector needs patient and flexible long-term capital to ensure project completion and we intend to provide the same through our funds. We aim to minimise risk and deliver superior returns through a disciplined approach on partner selection and risk management process.’’