The group has achieved the closure of its real estate fund 'ASK Real Estate Special Opportunities Fund II' of Rs 1,373 crore (USD 205 million).
"The company is planning to invest the same in next 18-24 months in six major cities i.E. Mumbai, Pune, Chennai, Bengaluru, Delhi-NCR and Hyderabad; in midsized residential projects," ASK group said in a statement today.
With the closure of this fund, ASK group's real estate private equity assets under management/advisory stands at Rs 3,500 crore.
He said so far 25 per cent of the fund has already been committed in two projects.
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ASK group MD and CEO Sunil Rohokale said, "This is our third domestic real estate fund raised in the last seven years and previous two domestic real estate funds are fully committed. We have primarily focused on family offices/ultra HNI investors. We have made five full and seven part exits from the first two funds in just over four years."
ASK group through its real estate business has committed Rs 2,000 crore in 19 projects.