ASK Property Investment Advisors has exited its investments from three projects in Noida, Bengaluru and Thane for Rs 440 crore.

ASK has exited from ATS Infrastructures’ Noida project ‘ATS Le Grandiose’ located on Noida Greater Noida Expressway at Sector 150 for Rs 121 crore.

The investment was made from ASK PIA’s domestic fund ‘ASK Real Estate Special Opportunities Portfolio II’. ASK had invested Rs 66 crore with ATS Group in Feb 2014 and in three years; the same has fetched an IRR of 27 per cent and a multiple of 1.85.

The part exit of Rs 151 crore is from ‘ASK Real Estate Special Opportunities Fund’, in the Shriram Properties Private Ltd’s Bengaluru project ‘Chirping Woods’.

ASK had invested Rs 90 Cr with Shriram Properties Private in September 2012 and has achieved a 1.71 multiple with this part exit.

ASK had also raised a structured debt for ‘Rumah Bali’ project at Thane by Puraniks in March 2016 and has exited with Rs 168 crore.

The exit has garnered returns of 19 per cent. ASK in last four years has raised over Rs 575 crore through NCD route and with this exit, NCD portfolio stands fully exited at over Rs 713 crore.

Amit Bhagat, MD & CEO, ASK Property Investment Advisors said, “The era of consolidation has clearly established the increased importance of partner selection, location, margin of safety and risk management. We have repeatedly proved our disciplined framework and sustainability of superior risk adjusted returns.”

ASK Group through its Real Estate investment advisory business manages Rs 4,000 crore and has committed over Rs 2,500 crore in 21 projects.

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