ASK Property Fund Invests Rs 190 Crore in Kalpataru's Mumbai Project

ASK Property Fund, the real estate private equity arm of ASK Asset & Wealth Management Group, has invested Rs 190 crore in a Kalpataru-developed real estate project in Mumbai. Located in Borivali West, the upper mid-segment project spans 6 acres and comprises 310 units. The funds will meet acquisition and working capital needs.

ASK Property Fund on Thursday announced an investment of Rs 190 crore in a real estate project developed by Kalpataru in Mumbai.

As the real estate private equity arm of Blackstone-backed ASK Asset & Wealth Management Group, ASK Property Fund confirmed that the capital injection is aimed at acquiring and providing working capital for the project.

Located in Borivali West, the upper mid-segment project covers 6 acres and consists of 310 units, offering about 6.5 lakh square feet of saleable area. ASK PIA, the real estate arm of the ASK group, focuses on private equity investments in residential and commercial segments.

(With inputs from agencies.)