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ASK Group to invest Rs200 crore in ATS Infra’s mixed-use project in Noida

LiveMint logoLiveMint 23-05-2017 Bidya Sapam

Mumbai: Financial services firm ASK Group on Tuesday said that it has invested Rs200 crore in a mixed-use project currently being developed by real estate firm ATS Infrastructure in Noida.

The investment also marks ASK’s entry into the commercial real estate segment. It has so far invested only in residential projects.

Called Knight Bridge, the mixed-use project is located at sector 124, Noida, and has development potential of 3 million sq.ft.

“We remain focused on one of our most important differentiator of developer selection and hence we are very happy to partner with ATS for the fourth project. Of the four project investments in ATS, 3 projects are in Noida,” said Amit Bhagat, managing director and chief executive officer (CEO), ASK Property Investment Advisors, in a statement.

The company has so far invested Rs650 crore in all the four projects and has exited investments worth Rs521 crore, he said.

ASK Group ventured into real estate private equity fund business in 2008 and has so far raised four domestic and one offshore fund.

Getamber Anand, chairman and managing director, ATS Infrastructure, said: “We are pleased to have repeat investor like ASK due to our understanding of risk and growth opportunities.”

ASK Group, through its real estate investment advisory business, manages Rs4,350 crore and has committed over Rs2,400 crore across 33 investments.

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