ASK investor will exit from residential project in Noida
Real estate focused private equity fund ASK Property Investment Advisors had invested Rs 50 crore in the residential? development ?project in Noida.
The project is expected to be completed in few months. 12 residential tower have been constructed in the project over 14.5 acres of land in Noida.
As the project ended with a great success, the ASK property will exit the project few months before schedule.
The market analyses are expecting the exit of several PE investors in the financial year 2012-13 as most of the investments were made in projects in 2007-08.
ASK investor has made seven investments in residential projects from their first fund. The group has already started raising funds for its second fund of about Rs 1000 crore. So far, it has raised Rs 850 crore for it.
ASK has invested close to Rs.600 crore from its first and second funds, including the three investments it has made in projects in Mumbai and Pune this year. Shortly, it will also start raising its first offshore fund of $250-300 million, which it recently registered in Singapore.
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Source: live Mint
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