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ASK Group invests Rs. 127 crores in ATS Group's Noida project

India Blooms News Service | | Jul 22, 2014, at 06:00 am

#ASK Group invests Rs. 127 crores in ATS Group's Noida project

Mumbai, July 21 (IBNS): ASK Group, a diversified financial services group, on Monday announced its maiden investment from its offshore fund in ATS Group's project in Noida.

The total investment is of Rs.127 crores.

The offshore fund is being managed by ASK Capital Management Pte. Ltd., the Singapore based subsidiary of ASK Group.

This is ASK Group’s third investment with ATS Group.The project is located at the Sector 150, Noida across 20 acres and is valued at Rs.1000 crores having total saleable area of 1.7 million square feet.The project is focused on mid income households which will be completed in 3-4 years.

While speaking about this investment, Getamber Anand, Chairman and Managing Director of ATS group and President Elect – CREDAI said, “This project is strategically located at Noida expressway. Sector 150 has become a preferred destination in the past few years for home buyers and enjoys good demand due its proximity to important centers of the city and beyond. Partnering with ASK Group has always amplified our existing strengths and we are very happy to strengthen this relationship."

While commenting on this development Sunil Rohokale, CEO and MD, ASK Group said, “ASK’s constant endeavor is to partner with prudent and reputed developers having a good track record. We are strengthening our partnership with ATS Group withthird investment and are confident of deriving great value for our investors. This investment also fits perfectly in our strategy to invest in top five cities and in a mid segmentresidential housing projects”.

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