By this fiscal end, private equity firm ASK Property Investment Advisors plans to invest up to Rs 500 crore in mid-income residential projects in the country, the company CEO and Managing Director Sunil Rohokale said. The company has so far raised two domestic funds with Rs 350 crore in 2009 and Rs 1,000 crore in 2011-12 and has invested to the tune of Rs 800 crore in 12 projects.
He said that the company has committed entire Rs 350 crore by investing in seven projects. As far as the second fund is concerned, we have already committed investments to the tune of Rs 500 crore in five projects, he said. The company recently invested Rs 147 crore in ATS Group's Gurgaon housing project.
The ASK Group has been concentrating only on mid-income residential projects coming up in five cities, including Mumbai, Pune, Delhi (NCR), Chennai and Bangalore, he said.