Financial services firm ASK Group has invested Rs 200 crore in a mixed-use project, 'Knights Bridge' being developed by realty firm ATS Infrastructure in Noida.
The project will be of more than 3 million square feet.
This is the first investment by ASK Group in a commercial project. It had invested only in housing projects so far.
ASK Group ventured into real estate private equity fund
business in 2008 and so far has raised four domestic and one offshore fund.
This is the fourth investment by ASK Group in ATS projects.
"Of the four project investments
in ATS, three projects are in Noida.
MD and CEO of ASK Property Investment Advisors said, "We have invested Rs 650 crore in these four projects and have exited investments
of Rs 521 crore with good returns."
is poised to be one of the fastest growing markets in NCR due to excellent infrastructure, job creation and proximity to Delhi, he added.
Sunil Rohokale, MD and CEO, ASK Group said, "Our group is focused on delivering consistent, predictable returns which require disciplined approach to investing. Our investors appreciate partner selection, risk management framework and asset management focus. With this investment, we are pleased to announce our foray into commercial real estate investment."
ATS Group CMD Getamber Anand said the company focuses on customer satisfaction, delivery, quality and experience.
ASK Group, through its real estate investment advisory business, manages Rs 4,350 crore and has committed over Rs 2,400 crore across 33 investments.
The funds have demonstrated exit track record of over Rs 1,900 crore through its 18 full and six part exits, clocking returns in the range of 17-55 per cent internal rate of return.