ASK Property Fund exits Rs.1,500-Cr debt fund with 1.83x return

ASK Property Fund has exited its INR 1,500 crore debt fund raised in 2018. The fund achieved an investment multiple of 1.83x from this exit. As part of this, the fund exited its investment in Mahagun Group's Noida project, having initially invested INR 310 crore in 2021 and receiving INR 650 crore upon exit.The Mahagun Group's Noida project, located in Sector 107, covers 2.4 million square feet of saleable area. The exit was financed through INR 400 crore from the project's cash flow, with an additional INR 250 crore paid by a non-banking financial company (NBFC).ASK Property Fund has deployed INR 9,100 crore across projects totalling 70 million sq ft since 2009.