ASK Invests in Kalpataru’s Pune Budget Housing

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, has invested ?200 crore in real estate Kalpataru Group’s mid-income housing project in Baner, Pune. This is an ongoing mid-segment re

BY Realty Plus
Published - Thursday, 13 May, 2021

ASK Invests in Kalpataru’s Pune Budget Housing

ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of ASK Group, has invested ?200 crore in real estate Kalpataru Group’s mid-income housing project in Baner, Pune. This is an ongoing mid-segment residential project on 16 acres with a saleable area of 1.9 million sq. ft, comprising over 1,200 units spread across one-to-three-bedroom homes. Baner has grown as an IT employment hub with about 13 million sq ft of IT parks and office complexes, including RMZ Icon and Panchshil Business Park. This is ASK’s first investment in Kalpataru Group. The developer will use the capital to replace an existing lender and for working capital. “This is our fourteenth project in Pune, and with this investment the ASK Group has now invested in projects spanning across 12million sq ft including over 8,500 residential units, a city-centric office space and IT-SEZ in Pune. The project is in line with our strategy of providing funds to mid-income housing projects for mid/last mile execution and completion," said Amit Bhagat, CEO and MD, ASK PIA.