Real estate-focused private equity firm ASK Group has invested an additional ₹125 crore in ATS Group’s Noida project, taking the total investment to ₹252 crore.

ASK Group’s offshore fund had earlier invested ₹127 crore in this project back in July 2014. The incremental investment is the eighth from ASK’s second Real Estate fund — ASK Real Estate Special Opportunity Fund.

This will be the third project where ASK has partnered with ATS through the Real Estate Private Equity route. The project, Le-Grandiose, is located in Sector 150, Noida, across 20 acres and has a total saleable area of 1.7 million square feet. The project focuses on mid-income households and will be completed in 2018.

Strategic location Amit Bhagat, CEO of ASK Property Investment Advisors, said, “Noida has emerged as a preferred destination over the past few years due its strategic location and proximity to important centres. We have also focussed on the Noida expressway due to excellent infrastructure and proximity to the job market. This investment also fits perfectly in our strategy to invest in the top five cities and in mid-segment residential housing projects.”

Getamber Anand, CMD of ATS Group, said, “For repeated investments, it is pertinent for both developer and investee to be flexible, agile and aligned to market realities. Investors will ride on the core competence of a developer, if they is convinced on execution and delivery capabilities.”

During the current year, ASK Group has invested ₹112 crore in ‘Purvankara’s’ Bengaluru project and has exited three investments, garnering an impressive multiple.

The group exited Mumbai’s ‘Rajesh Lifespaces’ investment with a multiple of 2.26 in over three years, and investments in Pune with Amit Enterprises and Paranjape.

ASK Group, through its real estate business, manages an AUM (assets under management) of ₹3,000 crore, and has committed ₹1,800 crore in 16 projects, spread over 18 million sq ft, during the last 18 quarters.

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