ASK properties makes 2.35 times of returns on investment
Private equity (PE) firm ASK Group made a handsome profit in a Pune residential project, developed by realty player Darode Jog Properties. The Darode Jog Properties investment made in Livano was made over a phased manner between September 2010 and March 2011 and the amount of investment was 37 Crores. This deal was closed for Rs 87 Crores and it has given a return of 2.35 times recording an IRR (internal rate of return) of 30 %.
ASK Property Investment Advisor’s CEO and Managing Director, Amit Bhagat was quite elated with the profit and mentioned that ASK Group’s focused strategy has reaped its benefits again. The group invests in mid segment residential real estate projects, in top metros, in partnership with experienced and reputed developers and exits from them when the fruit ripens.
Bhagat also mentioned that with this exit the company has managed to return 70 % of the first fund to investors and are confident of completely exiting it (first fund) in the current financial year with good returns.
In April 2012, the company exited its investment in ATS – One Hamlet in Noida while clocking an IRR of 54% and a multiple of 2.45 in just two years. Making a profit of more than 2 times has been the focus of the company and they have managed to do it successfully in most of their projects till now.
Source- The Economic Times
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