Private equity firm Ask Group has invested Rs 127 crore in real estate firm ATS group's housing project in Noida.
This investment is the company's first from the offshore fund managed by Singapore-based arm ASK Capital Management, ASK group said in a statement. This is ASK group's 3rd investment in ATS's. Earlier, ATS had raised Rs 50 crore & 140 crore in Noida and for a housing project in Gurgaon.
ASK group CEO and MD Sunil Rohokale said, "We are strengthening our partnership with ATS Group with third investment and are confident of deriving great value for our investors. This investment also fits perfectly in our strategy to invest in top five cities and in a mid-segment residential housing project."
Currently, ASK Group manages real estate assets of more than Rs 2,100 crore. It has successfully raised two domestic funds and an offshore fund amounting to about Rs 1,600 crore and has raised structured debt of close to Rs 500 crore, according to the statement.
ATS has bought 20 acres land from Logix and plans to launch the project in Noida in the coming 3-4 months. It is also expecting to achieve sales realisation of about Rs 1,000 crore from this project, company's CEO Geetamber Anand said.