ASK Group, a diversified financial services group, has made the maiden investment of Rs 127 crore from its offshore fund in ATS Group’s project in Noida.
The offshore fund is being managed by ASK Capital Management Pte. Ltd., the Singapore-based subsidiary of ASK Group.
This is ASK Group’s third investment with ATS Group. The project is located at Sector 150, Noida across 20 acres and is valued at Rs 1,000 crore, having total saleable area of 1.7 million square feet. The project is focused on mid-income households which will be completed in 3-4 years.
“ASK’s constant endeavour is to partner with prudent and reputed developers having a good track record. We are strengthening our partnership with ATS Group with third investment and are confident of deriving great value for our investors. This investment also fits perfectly in our strategy to invest in top five cities and in a mid segment residential housing projects,” said Sunil Rohokale, CEO and MD, ASK Group.
At present, ASK Group manages real estate assets of more than Rs 2,100 crore. The Group has successfully raised two domestic funds and an offshore fund of about Rs 1,600 crore and has raised structured debt of close to Rs 500 crore.
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