ASK Property Fund exits from Naiknavare Developers’ Pune project with 21% IRR, ET RealEstate

May 13, 2024
1 min read
ASK Property Fund exits from Naiknavare Developers' Pune project with 21% IRR, ET RealEstate


110087956

NEW DELHI: ASK Property Fund, the real estate private equity arm of ASK Asset & Wealth Management Group, has exited from Naiknavare Developers‘ project – Avon Vista for Rs 156 crore.

Amit Bhagat, CEO & MD, ASK Property Fund said, “By providing the requisite and flexible working capital, we ensured the project’s completion, supported by sales during the life of the project. The investment was self-liquidating with regular cash flow from the sales and collection linked to milestone”.

The company had invested Rs 80 crore in this project in 2018. The recent exit has achieved a targeted IRR of 21% and a 2x multiple of the capital invested.

Sunil Rohokale, MD & CEO, ASK Asset & Wealth Management Group said, “We have invested in 12 projects covering a total area of over 16 million sq ft in Pune. We look forward to making further investments in western India, including Pune and the Mumbai Metropolitan Region.”

The project, located in Balewadi, Pune, comprises of 613 units.

  • Published On May 13, 2024 at 02:00 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App
realty barcode



Source link

curationteam

Curation Team will curate content from different sources and present for you. We will not edit any content. Source link is provided for the source from where its received .

Leave a Reply

Your email address will not be published.

2024051034 pickering brookdalecentre2600
Previous Story

Tribute, Secure propose 14 towers in Pickering retail redevelopment • RENX

Supreme Court admits petition on imposition of GST on joint development pacts, ET RealEstate
Next Story

Supreme Court admits petition on imposition of GST on joint development pacts, ET RealEstate

Latest from Blog