FUNDEXITS PROJECT IN­VEST­MENTS

Hindustan Times (Chandigarh) - Estates - - FRONT PAGE - HT Es­tates Cor­re­spon­dent ht­es­tates@hin­dus­tan­times.com

ASK Prop­erty In­vest­ment Ad­vi­sors (ASKPIA), the realestate pri­vate eq­uity arm of a renowned di­ver­si­fied fi­nan­cial ser­vices firm ASK Group has an­nounced ex­its (re­couped their orig­i­nal in­vest­ment plus prof­its)from its project in­vest­ments in Noida, Ben­galuru and Thane. The ex­its have ma­te­ri­alised af­ter de­mon­eti­sa­tion.

ASK has ex­ited from ATS In­fras­truc­tures’ Noida project ATS Le Gran­diose lo­cated on the Noida-Greater Noida Ex­press­way at Sec­tor 150 for

` 121 crore. The in­vest­ment was made from ASK PIA’s do­mes­tic fund ASK Real Es­tate Spe­cial Op­por­tu­ni­ties Port­fo­lio II. ASK had in­vested ` 66 crore with the ATS Group in Fe­bru­ary 2014 and in three years.

The part exit of ` 151 crore is f rom ASK Real Es­tate Spe­cial Op­por­tu­ni­ties Fund, in the Shri­ram Prop­er­ties Pri­vate Ltd’s Ben­galuru project Chirp­ing Woods’ lo­cated off Sar­japur Road.

ASK had in­vested ` 90 crore with Shri­ram Prop­er­ties Pri­vate Ltd in Septem­ber 2012 and has achieved a 1.71 mul­ti­ple with this part exit. ASK is tar­get­ing mul­ti­ple of more than 2 from this in­vest­ment. ASK had also raised a struc­tured debt for Rumah Bali project at Thane by Pu­raniks in March 2016 and has ex­ited with ` 168 crore.

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