[ecis2016.org] The ASK Group has forayed into commercial real estate investing, with an investment of Rs 200 crores, in ATS Infrastructure’s mixed-use development project ‘Knight Bridge’, in Noida
Private equity firm ASK Group, is investing Rs 200 crores in ATS Infrastructure’s mixed-use development project ‘Knight Bridge’, in Noida. The deal marks the company’s foray into the commercial real estate space, the firm said in a statement issued here. ASK Group, through its real estate investment advisory business, manages Rs 4,350 crores and has committed over Rs 2,400 crores, across 33 investments.
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“Our investment of Rs 200 crores in ATS’ ‘Knight Bridge’ mixed-use development project, of over 3 million sq ft, is the fourth investment with the firm,” shared ASK Property Investment Advisors managing director and CEO, Amit Bhagat. He said of the four investments it has made in the ATS, three are in Noida, which includes the Knight Bridge project. The firm has invested Rs 650 crores in these four projects and has exited investments of Rs 521 crores, with good returns.
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“Noida is poised to be one of the fastest growing markets in the NCR, due to excellent infrastructure, job creation and proximity to Delhi,” Bhagat said. Commenting on the development, ASK Group’s CEO and MD, Sunil Rohokale said, “Our group is focused on delivering consistent, predictable returns. With this investment, we are pleased to announce our foray in commercial real estate investment.”
So far, ASK has raised four domestic and one offshore fund which was invested in residential projects. ATS Infrastructure chairman and MD, Getamber Anand said, “We are pleased to have repeat investors like ASK due to our understanding of risk and growth opportunities.”
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