ASK realty invests in two Pune projects

Watch CNBC-TV18 live only on MYTV >>

ASK Property Investment Advisors is investing in two Pune-based residential projects. The PE firm is investing in the real estate projects of Amit Enterprises Housing Ltd and Darode Jog Realties, which have an outlay of Rs 525 crore from ASK Real Estate Portfolio. ASK Property Investment Advisors is the property investment & advisory arm of the the financial services player ASK group.

ASK has invested in city centric projects in growth corridors like Baner and Kharadi which are surrounded by IT job markets, said a release. While the project at Baner by Amit Enterprises Housing Ltd is worth Rs 255 crore, the one at Kharadi by Darode Jog Realties is worth Rs 270 crore.

Earlier this year, ASK Realty Fund invested Rs 50 crore in ATS Group's "One Hamlet" project located at Sector 104, Noida. Last week, it was reported that ASK Realty plans to raise Rs 1,000 crore from HNIs for its ASK Real Estate Special Opportunities Fund.

"To generate superior risk-adjusted returns for our investors, it was imperative to diversify concentration risk by investing across geographies. After our first investment in NCR, we are happy to have entered the city of Pune with these two trophy investments with Amit Enterprises Housing Ltd and Darode-Jog properties," said Sunil Rohokale, ED - ASK Investment Holdings.

By: Madhav Chanchani