Located at sector 124 Noida, a new project stretched across 3 million sq ft has been ventured by the ASK Property Investment Advisor which is a real estate private equity firm of financial services firm ASK Group. A whooping invest of 200 crores has been pumped in ATS Infrastructure’s project .
ATS Infrastructure has raised one offshore fund and four domestic funds and started its real estate private equity fund business way back in 2008. All these investments are employed in residential projects so far. ASK Property Investment Advisor partnered with the ATS infrastructure for its fourth project considering Noida as one of the fastest growing real estate market with a huge potential. The scope of growth in Noida is backed with its commendable infrastructural facilities and proximity to Delhi.
Of all the four projects ventured between these two, three are primarily located in Noida. And ASK has invested Rs. 650 crores in all these projects. Now foreseeing the stability in commercial office sector and having a potential to be a part of REITs, institutional investors are keen to invest their funds in leased office assets. This fact is backed by the inflows into these kinds of assets in 2017 which is fairly high compared to the peak year 2014. The overtaking of funds inflow is four-fold at $3.5 billion.
Rs. 4350 crores of funds are currenly managed by the ASK Group with a commitment of Rs. 2400 crores over 33 investments. The group maintains an internal rate of return (IRR) between 17% to 55% with its six partial and eighteen full exits. This IRR is valued at Rs. 1900 crores.
In 2009, the group raised around Rs. 326 crores by committing 100% of its portfolio. Second domestic fund was raised further by this group in 2011 which was followed by its third fund raising in 2016 at Rs. 1000 crore and 1400 crore respectively. Now the group is heading towards its fifth fund raising of 2000 crores. It has also raised its maiden off shore funds worth $ 82 million.