By Rohit Sharma
ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group today announced that it has invested Rs 326 crore in housing project develop by QVC Realty Developers, Tridhaatu Realty and TVS Emerald part of TVS Group.
Amit Bhagat, MD & CEO, ASK Property Investment Advisors said, “Liquidity crunch of NBFCs/HFCs has accelerated the consolidation process benefitting reputed developers. The project launches with right sized, right priced focused on mid-segment have seen growth in absorption. Lack of refinancing to developers has considerably increased the deal flow for private equity.”
These projects are located in Mumbai, Bengaluru, Chennai and NCR. These investments are in line with the fund’s strategy of investing in residential focused real estate projects in the top five cities with established developers, said the company in a statement.
Sunil Rohokale, MD & CEO, ASK group said, “The sector needs patient and flexible long-term capital to ensure project completion and we intend to provide the same through our funds. The company aim to minimise risk and deliver superior returns through a disciplined approach on partner selection and risk management process.”