ASK Property Investment Advisors Announces the Initial Closure of INR 610 Cr Of Its Real Estate Fund The funds raised will be invested in the established residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai.

By Soumya Duggal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

freepik

ASK Property Investment Advisors (ASK PIA) has announced the initial closing of its latest and sixth real estate fund at INR 610 crores.

"We have announced initial closure of more than INR 610 crores ($80 million), which will be invested in the established residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai. Domestic investors account for 50 per cent of the real estate fund raised, while overseas investors account for the remaining 50 per cent. We are targeting a fund size of INR 2,000 crores. We have finalised a few investments and are prepared for accelerated deployment given a very healthy pipeline and a structurally resilient residential segment," said Amit Bhagat, CEO and MD, ASK PIA.

Over the last few years, private equity investments in income-yielding commercial, industrial, residential and data centres have increased significantly. The increase is primarily led by foreign capital inflows in India.

According to ASK PIA research, end-user demand combined with declining inventory as well as employment generation combined with income growth in service industry, IT, financial services and allied sectors are the drivers for sustained demand in the residential sector.

"The swift rebound, as indicated by a significant increase in sales velocity following the Covid period, has been very encouraging. We believe the residential market is already on a growth trajectory in 2022 and is likely to follow the same trend in the coming years. Selection of suitable developers, relevant micro-markets and entry at the right price have always been our strength. Our portfolio projects have shown robust performance and witnessed year-on-year growth of more than 70 per cen in sales value in FY2021-22. The average prices have risen by over 10 per cent and this is likely to sustain given the increase in purchasing power in the segment," said Sunil Rohokale, MD and CEO, ASK Group.

ASK PIA is the alternate asset investment arm of the ASK group, a major player in the asset and wealth management business, set up to manage and advise real estate-dedicated funds. The focus is on private equity investments in self-liquidating mid-income and affordable residential and commercial segments. ASK PIA has raised around INR 5,000 crores since 2009 and its investors include family offices, ultra high net worth individuals (UHNI), high net worth individual (HNI) and institutions.

Soumya Duggal

Former Feature Writer

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

Finvolve to Invest INR 300-350 Cr in 2025, Targeting 40-45 High-Impact Startups

Finvolve's Accelerator Fund will invest INR 50 lakhs to INR 1 crore per startup, while its Seed Fund will deploy INR 4 crore to INR 8 crore, boosting market entry and innovation.

News and Trends

Venturi Partners Invests USD 25 Mn in Affordable Footwear Brand JQR

The funding is set to drive JQR's expansion into new offline markets, the establishment of an online platform, and the enhancement of its product range to cater to India's growing demand for affordable yet high-quality sneakers.

News and Trends

Crèmeitalia and White Rivers Media Raise Funding for Expansion and Innovation

The following startups have announced their latest investment rounds.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

RBI Repo Rate Cut to Improve Credit Affordability, Boost Big Purchases

The move is expected to boost sectors such as real estate, which depends heavily on loans for its consumers to make a purchase.