ASK Group, a leading financial services firm today announced an investment of Rs.200 Cr. in ATS Infrastructure project ‘Knights Bridge’. The project is strategically located in Sector 124, Noida and is a mixed use development project of more than three million square feet.
ASK Group ventured into real estate private equity fund business in 2008 and so far it has raised four domestic and one offshore fund. The funds so far have all investments in residential projects. While commenting on the opportunity in commercial real estate sector, Mr. Amit Bhagat, MD & CEO, ASK Property Investment Advisors said, “We remain focussed on one of our most important differentiator of developer selection and hence we are very happy to partner with ATS for the fourth project. Of the 4 project investments in ATS, 3 projects are in Noida. We have invested Rs.650 Cr. in these 4 projects and have exited investments of Rs. 521 Cr. with good returns. Noida is poised to be one of the fastest growing markets in NCR due to excellent infrastructure, job creation and proximity to Delhi.”
Mr. Sunil Rohokale, MD & CEO, ASK Group while commenting on this announcement said, “Our group is focussed on delivering consistent, predictable returns which requires disciplined approach to investing. Our investors appreciate partner selection, risk management framework and asset management focus. Compounding of opportunity through repeat investments clearly reflects our belief in partner, location and methodology of investments. With this investment, we are pleased to announce our foray in commercial real estate investment’’
Mr. Getamber Anand, Chairman & Managing Director, ATS Infrastructure mentioned, “Our brand represents focus on customer satisfaction, delivery, quality and experience. We are pleased to have repeat investor like ASK due to our understanding of risk and growth opportunities”
ASK Group through its Real Estate investment advisory business manages Rs.4,350 Cr. and has committed over Rs 2,400 Cr. across 33 investments. ASK funds have demonstrated exit track record of over Rs. 1,900 Cr. through its eighteen full and six part exits clocking returns in the range of 17% to 55% IRR.
About ASK Property Investment Advisors
ASK Property Investment Advisors (ASK PIA) is a venture of the ASK group set up to manage and advise real estate dedicated funds. This initiative of the group rests on the backbone of extensive investment and asset management expertise backed by strong research focus. The real estate team has over 100 man years of cumulative experience and comprises some of the best professionals with mortgage finance, real estate, construction and asset management experience. ASK PIA raised Rs 326 Cr. under tough market conditions in the period March 2009 to December 2009 and has committed 100% of its Portfolio. It raised second domestic fund of Rs 1000 Cr. in 2011 and a third domestic fund of RS.1400 Cr. in 2016. ASK Group has also raised Rs. 492 Cr. (USD $ 82 mn) for its maiden offshore fund. Currently ASK PIA is raising its fifth fund of Rs.2000 Cr. The company has also raised structured debt of over Rs 575 Cr. for some of the most reputed and financially prudent developers with which they share a good relationship.
About ASK Group
The ASK Group is a renowned Financial Services Group and is today a leading player in the Wealth & Investment Management business, and manages the wealth & investment needs of some of the most affluent families in India. With over three decades of presence in India, ASK group has been a true believer in the India growth story and over the years has grown hand-in-hand with its clients across the globe. The group is represented in India through its four key businesses: Wealth Advisory and MultiFamily Office Service – ASK Wealth Advisors, Portfolio Management Services – ASK Investment Managers, Real Estate Private Equity – ASK Property Investment Advisors and Private Equity Management – ASK Pravi Capital Advisors. It has 7 offices in India through which it services the needs of clients across the country. Through its office in Dubai the group manages clients in GCC & Africa and through its office in Singapore it manages real estate and equity investments made in India.
ASK group manages assets of approximately Rs 35,500 Cr. (~US $5.4 Bn).