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ASK Realty Fund Invests Rs 50Cr In ATS Group’s Noida Project

13 September, 2010

ATS Group’s “One Hamlet” project has raised Rs 50 crore ($11 million) from ASK Real Estate – Special Opportunities Portfolio 1, a fund floated by ASK Property Investment Advisors. The project is located at sector 104, Noida. This 2 million sft residential development is a Rs 1,000 crore project, said a release.

The project has developed and delivered over 6 million sft till date and has a robust pipeline of over 10 million sft. Landmark Holdings, part of the Dalmia Group, has also invested in  this project of ATS, VCCircle has learnt.

The Rs 340 crore, Special Opportunities Portfolio 1, is the first real estate fund raised by ASK Property Investment Advisors Pvt. Ltd, the property investment & advisory arm of the the ASK group. The fund will be investing only in residential, city centric, shortgestation projects in the top 7 urban centres including Mumbai, NCR,Chennai, Bangalore, Pune and Hyderabad and Kolkata.

Given the buoyancy in the market, many investors are looking to participate in real estate projects once again, after the slowdown in new project financings in 2009. Recently, Pelican Realty Ventures raised Rs 20 crore from Milestone Capital and New York based Brahma Management struck Rs 650 crore land deal for Gurgaon township.


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ASK Realty Fund Invests Rs 50Cr In ATS Group’s Noida Project

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