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ASK Property Fund, the real estate private equity arm of ASK Asset & Wealth Management Group, has exited an INR 200 crore investment in three projects developed by QVC Realty Developers. Over four years, the fund generated a return of INR 354 crore, achieving a 1.8x multiple on their initial investment and an Internal Rate of Return (IRR) of approximately 20%. Amit Bhagat, CEO and MD of the fund, attributes their success to strategic project selection and timely market opportunities, emphasizing their commitment to identifying investments with a 3-5-year horizon. Sunil Rohokale, Managing Director and CEO of ASK Asset & Wealth Management Group highlights the positive real estate market dynamics and the importance of the residential sector within their investment portfolio, which includes logistics and data centers.
ASK Property Fund, a leading player in this space, has successfully exited an investment in three projects developed by QVC Realty Developers, generating a strong return. Advertisement
ASK Property Fund, the real estate private equity arm of ASK Asset & Wealth Management Group, announced a profitable exit from an INR 200 crore investment. This investment was spread across a portfolio of three projects by QVC Realty Developers. These projects included one located in Bengaluru and two situated on the Dwarka Expressway in Gurugram. Within a timeframe of four years, ASK Property Fund has exited this investment, generating a return of INR 354 crore. This translates to a successful 1.8x multiple on their initial investment and an Internal Rate of Return (IRR) of approximately 20%.
ASK Property Fund attributes their success to a combination of factors. Amit Bhagat, CEO and MD of the fund highlighted their focus on project selection and entry points. He explained how choosing projects with a "margin of safety" was crucial in achieving healthy returns. Additionally, the post-pandemic demand for villas and plotted developments presented a timely opportunity for a targeted exit. Mr. Bhagat emphasized their ongoing commitment to identifying investment opportunities with a 3-5-year horizon, coinciding with project completion timelines.
Sunil Rohokale, Managing Director and CEO of ASK Asset & Wealth Management Group commented on the broader real estate market dynamics. He noted the positive shift in the real estate cycle, driven by sustained end-user absorption of properties and supply constraints. This shift creates a favourable environment for their investment strategy, which focuses on the residential mid-segment catering to end-users. Mr. Rohokale further emphasized the importance of the residential sector within their INR 6,100 crore investment portfolio, alongside other favoured asset classes like logistics and data centers. These funds have been raised since 2009 from family offices, ultra-high net worth individuals (UHNIs), high net worth individuals (HNIs), and institutions.
This successful exit demonstrates the potential for profitable returns in the real estate sector, particularly with strategic investment choices and a focus on market trends.
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