ASK Group exits Pune realty investments

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Mumbai, Mar 12, 2015

Ask Group has exited from two residential projects in Pune, mopping up Rs. 147 crore from the projects.

Ask Group made a total investment of Rs. 30 crore in Amit Enterprises’ Serano project at Baner. The project has garnered an exit value of Rs. 75 crore within an investment period of over three years, returning a multiple of 2.53 times.

The second project, Skyone, is being developed by Paranjape Schemes. The investment of Rs. 40 crore has given an exit value of Rs. 72 crore in less than three years, with a multiple of 1.80 times.

Both these investments were made from ASK’s first domestic real estate fund, ‘ASK Real Estate Special Opportunities Portfolio 1’.

Amit Bhagat, CEO & MD of ASK Property Investment Advisors said, “With these exits we have returned 1.15 times of the entire capital equivalent of the first fund to investors.” Business Line