ASF Group Secures Rs 1,250 Crore to Fuel Gurugram Office Campus Development

ASF Group has obtained Rs 1,250 crore funding from Alpha Alternatives for its Gurugram office campus and debt reduction. ASF Insignia SEZ Pvt Ltd is developing a 50-acre IT campus at Vatsal Valley. The investment underpins ASF's strategy and focus on meeting enterprise needs with optimal costs.

Realty firm ASF Group has successfully raised Rs 1,250 crore from Alpha Alternatives to bolster its ongoing prime office campus development in Gurugram and manage debt. According to a Thursday statement, the company has already secured Rs 450 crore from Alpha Alternatives and anticipates receiving the remaining funds within six months.

The subsidiary ASF Insignia SEZ Pvt Ltd is spearheading the development of a 50-acre integrated commercial IT office campus located in Vatsal Valley, Gurugram, with support from Alpha Alternatives, a Mumbai-based firm committed to providing equity and quasi-equity investments totaling around Rs 1,250 crore.

Anil Saraf of ASF Group emphasized that the investment from Alpha Alternatives enhances the long-term prospects of the ASF Insignia campus and aligns with their strategy to establish an institutionally-driven office ecosystem. The project aims to balance sheet strength, asset quality, and evolving enterprise needs, covering about 4.5 million sq ft of high-quality office space with a potential total reach of 7 million sq ft over the campus.