ASK Property Fund Signs Rs 500 Crore Platform Deal, Commits Initial Rs 125 Crore in Faridabad
Delhi NCR / Mumbai, Aug 6, 2026: Blackstone-backed ASK Property Fund signed a platform arrangement for Rs 500 crore with Bhumika Group to invest in real estate developments, including residential plotted colonies across key micro-markets in NCR. As part of this initial framework, ASK Property Fund proposes to invest Rs 125 crore in a 20-acre residential plotted township development located in Faridabad, ASK Property Fund said in a press release.
Faridabad has emerged as an active NCR micro-market supported by land availability, improving infrastructure, and competitive pricing relative to more mature regional destinations. Key connectivity projects, including the Delhi–Mumbai Expressway link, the proposed FNG Expressway, the Faridabad–Jewar corridor, and the upcoming Noida International Airport, are expected to strengthen regional access and buyer interest. The project is positioned to capture demand for plotted residential formats that offer buyer flexibility, manageable ticket sizes, and long-term capital appreciation.
Commenting on the expansion, Bhavin Jain, Co-Head & CIO of ASK Property Fund, stated, “Our platform arrangement with Bhumika Group reflects our continued focus on creating scalable partnerships in residential real estate. Plotted developments are seeing strong interest from buyers, particularly in emerging micro-markets where infrastructure growth and affordability can support long-term value creation. This investment is consistent with our philosophy of maintaining strong governance and risk controls and delivering attractive risk-adjusted returns for our investors.”
Highlighting the scope of the collaboration, Uddhav Poddar, Chairman and Managing Director of Bhumika Group, stated, “This platform arrangement with ASK Property Fund marks an important milestone in Bhumika Group’s growth journey. More than a capital partnership, it brings together two institutions that share a common philosophy of long-term value creation, disciplined execution and the highest standards of governance.”
Emphasizing the region’s market potential, Poddar added, “The infrastructure developments are creating one of the most compelling real estate opportunities in the NCR. At Bhumika Group, we have been early believers in this opportunity and are committed to creating thoughtfully planned, high-quality developments that contribute to the city’s next chapter of growth. Our partnership with ASK Property Fund strengthens our ability to scale responsibly while remaining focused on execution excellence, transparency, and delivering enduring value to our customers and stakeholders.”
