ASK Arm Makes 3 Ex­its with Big Re­turns

The Economic Times - - Brands & Companies - Our Bureau

Mum­bai: ASK Prop­erty In­vest­ment Ad­vi­sors, the real-es­tate pri­vate eq­uity arm of fi­nan­cial ser­vices firm ASK Group, has made three ex­its from its project in­vest­ments to­talling ₹ 440 crore.

These are one of the few ex­its that have taken place since de­mon­eti­sa­tion. The ex­its have been made from res­i­den­tial projects of Pu­ranik Group, ATS In­fras­truc­tures and Shri­ram Prop­er­ties with project level in­ter­nal rate of re­turns rang­ing from 19% to 27%. Of the three ex­its, two were eq­uity in­vest­ments made by the fund di­rectly in ATS In­fras­truc­tures and Shri­ram Prop­er­ties, while a struc­tured debt fund rais­ing was done through in­vestors for Pu­ranik Builders. “ASK funds have demon­strated exit track record of over ₹ 1,850 crore through its seven full and nine part ex­its, clock­ing re­turns in the range of 21%27% IRR and this per­for­mance has been highly ap­pre­ci­ated by in­vestors,” said Su­nil Ro­hokale, MD & CEO, ASK Group. ASK had man­aged a struc­tured debt fund rais­ing for Pu­ranik Builders’ Thane project Rumah Bali in March 2016 and has now re­ceived an exit worth ₹ 168 crore. The exit has gar­nered re­turns of 19%. ASK had in the past four years raised over Rs 575 crore through non-con­vert­ible deben­ture (NCD) route and with this exit, its NCD port­fo­lio stands fully ex­ited at over ₹ 713 crore.

“The era of con­sol­i­da­tion has clearly es­tab­lished the in­creased im­por­tance of part­ner se­lec­tion, lo­ca­tion, mar­gin of safety and risk man­age­ment. All of these ex­its have been achieved from mid­dle in­come res­i­den­tial projects, which have been launched and have at­tained tar­geted con­struc­tion and sales bench­mark. We have re­peat­edly proved our dis­ci­plined frame­work and sus­tain­abil­ity of su­pe­rior risk ad­justed re­turns,” said Amit Bha­gat, MD & CEO, ASK Prop­erty In­vest­ment Ad­vi­sors.

Out of its eq­uity in­vest­ments, ASK has ex­ited from ATS In­fras­truc­tures’ Noida project ATS Le Grandiose lo­cated on Noida Greater Noida Ex­press­way at Sec­tor 150 for ₹ 121 crore.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.