Latest news with #ASKPropertyFund
Hindustan Times
17 hours ago
- Business
- Hindustan Times
Kalpataru IPO launch next week; focus on sub- ₹10 crore housing in MMR and Pune
Mumbai-based real estate developer Kalpataru, which is set to launch its Initial Public Offering (IPO) next week, announced that it will continue to focus on key markets including the Mumbai Metropolitan Region (MMR), Pune, and Hyderabad, where it already has ongoing projects. The company noted that a majority of the housing demand falls within the ₹1 crore to ₹10 crore price bracket, which aligns with its existing inventory. Of its 50 million sq. ft. portfolio, approximately 70% is priced up to ₹10 crore, with a substantial portion available for under ₹3 crore. "The demand if we go to see today is majority in the ₹1 crore to ₹10 crore segment, and this is what our supply is. Going further, we will adapt as per the demand. However, the majority of the demand, at least in Mumbai, is for ₹1 crore to ₹10 crore," said Parag Munot, managing director, Kalpataru. "We also have redevelopment projects in our portfolio, and we are very positive about redevelopment projects in MMR. There is no doubt that the MMR and Pune markets have good depth, but we also see depth in Delhi-NCR, Hyderabad, and Bengaluru," Munot said. Also Read: Kalpataru inks redevelopment agreements with two housing societies in Mumbai with a revenue potential of ₹2,000 crore The company also has a strong presence in the premium and luxury segments of the Mumbai real estate market. Almost 95% of its portfolio is in the residential segment, and 73% is in the Mumbai Metropolitan Region. The company has completed over 120 projects at the group level. In addition to the residential segment, the company has commercial real estate projects in MMR and Pune and plotted development projects in MMR and Nagpur. Also Read: Mumbai-based Kalpataru Ltd plans to foray into Nagpur real estate market, may launch a plotted development project The company will open its IPO on June 24 and close on June 26. The price band of the Issue has been fixed from ₹ 387 per equity share to ₹ 414 per equity share. The company plans to raise ₹1,590 crore from the IPO. Also Read: Mumbai real estate news: Blackstone-backed ASK Property Fund invests ₹190 crore in Kalpataru's project The IPO proceeds will be primarily used for debt repayment, a strategic move to strengthen the company's balance sheet. As of December 31, 2024, Kalpataru reported total assets of ₹15,562 crore.
Time of India
22-05-2025
- Business
- Time of India
ASK Curated Luxury Assets Fund raises ₹500 crore to invest in luxury housing projects
NEW DELHI: ASK Property Fund and India Sotheby's International Realty (ISIR) backed real estate fund has raised Rs 500 crore to invest in luxury housing projects across major cities. ASK Curated Luxury Assets Fund- I (ASK CLAF I), an Alternative Investment Fund (AIF), on Thursday announced its initial close. "This fund, aimed at investing in luxury residential projects, has evoked interest from many of India's prominent family offices, Ultra-High-Net-Worth Individuals (UHNIs), securing an investment corpus of Rs 500 crore within 3 months of its launch," ASK Property Fund said in a statement. This fund plans to immediately start deploying funds as per its investment strategy and aims to raise a total of Rs 1,500 crore, including a green shoe option of Rs 500 crore, towards its final close. The AIF will provide funding in early-stage projects at favourable entry points, mainly in high-end residential projects in major cities, as well as horizontal projects such as second homes and holiday homes. As an equity-focused fund, it aims to target the profit margin of the project, striving to achieve a minimum multiple of 2 times or more of invested capital. ASK Curated Luxury Assets Fund I, registered with the Securities and Exchange Board of India ( SEBI ) as a Category II Alternative Investment Fund under the SEBI AIF Regulations. ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, is the investment manager and sponsor of the AIF, while India Sotheby's International Realty is co-sponsor and real estate advisor.
Hindustan Times
22-05-2025
- Business
- Hindustan Times
ASK Property Fund, ISIR-backed real estate AIF raises ₹500 crore for Investment in luxury housing projects
ASK Property Fund and India Sotheby's International Realty (ISIR) backed real estate fund has raised ₹500 crore to invest in luxury housing projects across major cities within three months of the launch of its Alternative Investment Fund platform, ASK Curated Luxury Assets Fund- I (ASK CLAF I), the company has said. "This fund, aimed at investing in luxury residential projects, has evoked interest from many of India's prominent family offices, Ultra-High-Net-Worth Individuals (UHNIs), securing an investment corpus of ₹500 crore within 3 months of its launch," ASK Property Fund said in a statement. The fund is primarily focused on capitalising on the expected growth of India's luxury real estate market. It plans to invest in early-stage developments at attractive entry valuations, with a focus on premium residential projects in major cities, as well as horizontal developments like second homes and holiday properties. As an equity-focused vehicle, the fund aims to capture the project's profit margin and is targeting a minimum return of 2x or more on invested capital, Ask Property Fund said. This fund plans to immediately start deploying funds as per its investment strategy and aims to raise a total of ₹1,500 crore, including a ₹500 crore green shoe option, towards its final close. Also Read: ASK Property Fund and India Sotheby's International Realty join hands to launch ASK curated luxury assets fund ASK Curated Luxury Assets Fund I is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund under the SEBI AIF Regulations. "This collaboration and strategy present a unique proposition. The fund benefits significantly from SIR's capability to monetize projects through its extensive network, experience, and access to premium land parcels. We believe the fund can secure exclusive deals for our select developer partners via curated opportunities and maximize returns through well-structured investments," Amit Bhagat, co-founder, CEO and MD at ASK Property Fund, said. ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset and Wealth Management Group, is the investment manager and sponsor of the AIF, while India Sotheby's International Realty is co-sponsor and real estate advisor.
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Business Standard
15-05-2025
- Business
- Business Standard
Shapoorji Pallonji targets ₹ 1,400-cr sales from Gurugram housing project
Shapoorji Pallonji Real Estate (SPRE), in partnership with KREEVA and ASK Property Fund, on Thursday launched a luxury housing project in Gurugram with a revenue potential of Rs 1,400 crore. In October last year, Shapoorji Pallonji Real Estate (SPRE) formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a residential project, spread over 1.75 acre, in Sector 46, Gurugram. On Thursday, SPRE launched this new project -- The Dualis -- comprising 198 units, as part of its expansion plan to encash strong housing demand across major cities. "The project is poised to generate projected top-line revenues of over Rs 1,400 crore over the next five years," SPRE said in a statement. The project features two towers, each having a height of about 150 metre, with 198 apartments. The size of the flats ranges from 2,850 to 3,600 square feet. Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate (SPRE) & Managing Director of Joyville Shapoorji Housing, said, "With 'The Dualis', we are entering a high-potential micro-market with a product that combines location, scale, and quality." "This is a long-term investment in the future of luxury housing in Gurugram, backed by partners who share our vision for value creation and timely delivery," he said. The partnership brings together institutional funding, deep-rooted local market expertise, and a shared legacy of construction excellence, Mahadevan said. Mayank Jain, CEO-KREEVA said this collaboration with SPRE and ASK Property Fund is a strong endorsement of the location's investment potential. This is SPRE's second project in the Gurugram market, following the successful launch of Joyville Gurugram in Sector 102. With this project, the SPRE further strengthens its residential real estate portfolio in NCR. SPRE, which is part of the Shapoorji Pallonji Group, is one of the leading real estate firms in the country. With a development potential of over 142 million square feet, SPRE has a presence in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata. Kanodia Group is into diverse businesses, including cement, building solutions, media and real estate, among others.
Time of India
15-05-2025
- Business
- Time of India
Shapoorji Pallonji Real Estate targets Rs 1,400-cr sales from new housing project in Gurugram
New Delhi: Shapoorji Pallonji Real Estate ( SPRE ), in partnership with KREEVA and ASK Property Fund, on Thursday launched a luxury housing project in Gurugram with a revenue potential of Rs 1,400 crore. In October last year, Shapoorji Pallonji Real Estate (SPRE) formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a residential project, spread over 1.75 acre, in Sector 46, Gurugram. On Thursday, SPRE launched this new project -- The Dualis -- comprising 198 units, as part of its expansion plan to encash strong housing demand across major cities. "The project is poised to generate projected top-line revenues of over Rs 1,400 crore over the next five years," SPRE said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Book your dream home & save upto ₹4 Lakhs. Sunteck World Book Now The project features two towers, each having a height of about 150 metre, with 198 apartments. The size of the flats ranges from 2,850 to 3,600 square feet. Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate (SPRE) & Managing Director of Joyville Shapoorji Housing, said, "With 'The Dualis', we are entering a high-potential micro-market with a product that combines location, scale, and quality." Live Events "This is a long-term investment in the future of luxury housing in Gurugram, backed by partners who share our vision for value creation and timely delivery," he said. The partnership brings together institutional funding, deep-rooted local market expertise, and a shared legacy of construction excellence, Mahadevan said. Mayank Jain, CEO-KREEVA said this collaboration with SPRE and ASK Property Fund is a strong endorsement of the location's investment potential. This is SPRE's second project in the Gurugram market, following the successful launch of Joyville Gurugram in Sector 102. With this project, the SPRE further strengthens its residential real estate portfolio in NCR. SPRE, which is part of the Shapoorji Pallonji Group, is one of the leading real estate firms in the country. With a development potential of over 142 million square feet, SPRE has a presence in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata. Kanodia Group is into diverse businesses, including cement, building solutions, media and real estate, among others.
