ASK group exits ATS Infrastructure's Gurgaon project

Had invested Rs 147 cr on the project and exited with Rs 270 cr with 25% internal return

ASK Property Investment Advisors, the real estate private equity arm of ASK group, today said it has exited it's investment in ATS Infrastructure’s Gurgaon Project with 1.82 times returns.

ASK Real Estate Special Opportunities Fund’, the realty fund of ASK PIA invested Rs 147 crore in the ATS Infrastructures’ Gurgaon project ‘ATS Tangerine’ located on Sector 99A in July 2013 and exited with Rs 270 crore with an internal return of 25per cent.

This is the second exit from ‘ASK Real Estate Special Opportunities Fund’. ASK raised its second fund in 2011-2012 which is fully committed in Mumbai, Pune, Bengaluru and NCR.

While commenting on the exit, Amit Bhagat, managing director and chief executive officer, ASK Property Investment Advisors said, “Our first investment from the first fund was also with ATS in Noida, in a project, ‘One Hamlet’ which was delivered two years back. We have invested in six transactions with ATS and have exited completely in four”, he said.