ASK Property Fund 2022 exits at Rs 830 cr

Mumbai, December 06, 2022: ASK Property Fund (“ASK”), the real estate private equity arm of the ASK Group, announced cumulative exits of Rs. 830 crore in 2022 from various funds. 

The most recent being the exit from Gulshan Homz’s project, Gulshan Dynasty, in Noida. A press release issued by the company says that, the Gulshan Dynasty exit amount was ₹220 cr. and has achieved multiple of 1.63x and IRR of 21%. The exit was self-liquidating with periodic distributions from sales and collection of the project. 

With the latest exit, ASK’s exit sums up to ₹830 cr. in 2022 and cumulative total of ₹1,300 cr. since April 2021 across all real estate investments. The average return across 18 completed exits is 22.33% and other exits include Jewel Square and Kumar Prospera in Pune, TVS Green Enclave in Chennai, and Gulshan One 129 in Noida. 

Amit Bhagat, CEO & MD, ASK Property Fund said, “Gulshan Dynasty was the second exit from Gulshan Homz, following the successful exit of Gulshan One 129. Noida is one of our chosen markets and ASK Property Fund is looking forward to deploying additional growth capital in such thriving markets. We are pleased with the performance of our investments and these latest exits demonstrate the effectiveness of our approach. We have successfully executed a value-add strategy on well-positioned catchment in order to achieve the target return. We thank our investors and developer partners who have put their confidence in our team as we have concluded another successful exit.”