ASK Group invests Rs. 252 crore in ATS Group's Noida project.

ASK Group, a diversified financial services group, has announced an additional investment of Rs. 125 crore in ATS Group's Noida project, taking the total investment in the project to Rs. 252 crore. ASK Group's offshore fund invested Rs. 127 crore in this project in July 2014.

The incremental Rs 125 crore is the eighth investment from ASK's second real estate fund—'ASK Real Estate Special Opportunity Fund'. This will be the third project where ASK has partnered with ATS through the real estate private equity route.

The project, Le-Grandiose, is located at Sector 150, Noida, across 20 acres and has a total saleable area of 1.7 million sq. ft. The project focuses on mid-income households and will be completed in 2018.

'Noida has emerged as a preferred destination in the past few years due its strategic location and proximity to important centers of the city,' said Amit Bhagat, CEO and MD, ASK Property Investment Advisors.

'We have also focused on Noida expressway due to excellent infrastructure and proximity to job market. This investment also fits perfectly in our strategy to invest in top-5 cities and in mid-segment residential housing projects,' he stated.

'For repeated investments, it is pertinent for both developer and investee to be flexible, agile and aligned to market realities,' said Getamber Anand, chairman and MD, ATS Group. 'Investor will ride on the core competence of a developer if he is convinced on execution and delivery capabilities,' he said.

ASK Group has invested Rs 112 crore in Purvankara's Bengaluru project and has exited from three investments in the current year. The group exited Mumbai's 'Rajesh Lifespaces' investment with a multiple of 2.26 in over three years, and its investments in Pune with Amit Enterprises and Paranjape with a multiple of 2.53 (over 3 years ) and 1.80 times (less than 3 years ) respectively.

TOI