ASK Property Investment Advisors, the actual property investment arm of economic services corporation ASK Group, has invested Rs 350 crore ($50 million) in a bunch of projects of two Pune-based totally actual property builders, it said in a declaration.
The real property funding company has invested Rs 275 crore and some other Rs 75 crore within the residential and industrial initiatives of Paranjape and Naiknavare companies, respectively, the announcement brought.
This is the realty firm’s third investment in Paranjape and 2d in Naiknavare.
“All these investments are in tasks placed within the suburbs with proximity to task markets and get admission to social and physical infrastructure. Our method is to recapitalize/deleverage initiatives of developers who’re customer-centric with recognition on product, fine and timely final touch,” Amit Bhagat, coping with director and leader govt officer of ASK Property Investment Advisors, said in the assertion.
In March this yr, ASK Property Investment Advisors invested Rs 326 crore ($47 million) inside the projects of QVC Reality Developers, Tridhaatu Realty and TVS Emerald, which is part of the TVS Group.
“We have performed a couple of offers inside the closing six months. Through our budget, we intend to offer our developer companions with patient capital thereby permitting them in mission finishing touch, driving income, producing higher coins flows and growing profitability,” Sunil Rohokale, MD and CEO of the ASK Group stated within the announcement.
These investments are taking place at a time when developers across the united states of America are going thru a huge liquidity crunch. Developers for a long time had been basically dependent on non-banking finance organizations for financing and refinancing however the situation modified after the IL&FS fiasco. The liquidity problem offers a terrific opportunity for personal fairness companies to take gain of the lending gap and deploy capital.
In 2017, ASK Group had one by one announced that ASK Property Investment Advisors and TVS Emerald Haven Realty Ltd had partnered each other to installation an Rs 400-crore actual estate funding platform focused on mid-income housing and affordable housing.
ASK Group is operating on its preliminary public offering and is expected to get listed soon. It gives offerings throughout wealth advisory and multi-circle of relatives workplace provider in addition to portfolio management services – real estate and private equity.
In actual property investments, ASK Group invested in a group of tasks of southern actual estate developer Shriram Properties and additionally created a platform with the developer. The group had additionally sponsored a commercial mission of ATS Group, marking its first investment inside the business space.
ASK Property Investment Advisors raised its first home fund of Rs 326 crore underneath hard marketplace situations inside the length from March 2009 to December 2009. It raised a 2d home fund of Rs 1,000 crore in 2011 and a third home fund of Rs 1, four hundred crores in 2016.
ASK Group has also raised Rs 500 crore ($ eighty-two million) for its maiden offshore fund. The business enterprise has also raised structured debt of over Rs 575 crore for some of the most reputed and financially prudent builders which are absolutely prepaid. In March 2018, it introduced the very last close for its dependent equity fund of Rs 898 crore.