ASK Property Fund Completes Successful Exit from Gurugram Residential Project
ASK Property Fund exits Trevoc’s residential project in Gurugram
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ASK Property Fund, part of ASK Asset & Wealth Management Group, has successfully exited Trevoc Developer’s Trevoc Royal Residences in Gurugram, India, after achieving 65% sales within 18 months. The exit generated ₹141 crore from an initial investment of ₹98 crore, resulting in a 21% internal rate of return (IRR).
- 01ASK Property Fund exited Trevoc Royal Residences in Gurugram after 18 months.
- 02The investment generated ₹141 crore from an initial ₹98 crore investment.
- 03The exit resulted in a 21% IRR and an investment multiple of 1.44x.
- 04The fund has raised ₹9,100 crore since 2009 for various real estate projects.
- 05Recent successful exits include projects in Borivali, Mumbai, and Noida.
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ASK Property Fund, the real estate division of ASK Asset & Wealth Management Group, has exited its investment in Trevoc Royal Residences, a residential project by Trevoc Developers in Gurugram, Haryana, India. The fund invested ₹98 crore in the project, which consists of 172 units. Within just 18 months of its launch, the project achieved 65% sales, allowing ASK Property Fund to exit at ₹141 crore, yielding a 21% internal rate of return (IRR) and an investment multiple of 1.44x. This successful exit is part of a broader strategy by the fund, which has also exited other projects, including a ₹190 crore investment in Kalpataru Group's redevelopment project in Borivali, Mumbai, yielding an 18% IRR. Overall, the fund has raised ₹9,100 crore since its inception in 2009, investing in projects across 70 million sq ft in major Indian markets, including the Mumbai Metropolitan Region and National Capital Region. Bhavin Jain, Chief Investment Officer of ASK Property Fund, emphasized the fund's commitment to finding growth opportunities with reputable developers.
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The successful exit from the Gurugram project indicates strong demand in the residential real estate market, potentially benefiting local developers and investors.
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