ASK Property Fund Exits ₹400 Crore Real Estate Investments in MMR and Gurgaon

ASK Property Fund has completed exits from 2 residential real estate investments located in the Mumbai Metropolitan Region and Gurgaon.  

The exits highlight the fund’s strategy of deploying growth capital in residential projects and generating returns through timely monetisation. 

Mumbai Project Exit and Returns 

The fund had invested ₹190 crore in March 2024 in Kalpataru Group’s redevelopment project, Kalpataru Advay, located in Borivali, Mumbai. The project spans 6.1 acres and comprises 310 residential units with a saleable area of around 0.4 million square feet. 

The project witnessed strong demand within a short time frame, which enabled the fund to exit the investment at ₹244 crore. This translated into an internal rate of return of 18% and an investment multiple of 1.3x. 

Gurgaon Investment Performance 

In a separate transaction, ASK Property Fund had deployed ₹98 crore in February 2024 in Trevoc Developers’ residential project, Trevoc Royal Residences, in Gurgaon.  

The development, spread across 2.06 acres, includes 172 units with a total saleable area of approximately 0.5 million square feet. 

The project achieved about 65% sales within nearly 18 months of launch, allowing the fund to fully exit the investment at ₹141 crore. The exit generated an IRR of 21% along with a multiple of 1.44x. 

Strategy, Scale and Portfolio Overview 

As per news reports, commenting on the exits, Chief Investment Officer Bhavin Jain said the transactions reflect the fund’s focus on identifying “strategic growth opportunities with reputed developers in established micro markets” and delivering consistent returns to stakeholders. 

ASK Property Fund, operated through ASK Property Investment Advisors Pvt. Ltd., focuses on private equity investments in self-liquidating residential projects.  

The fund has raised ₹9,100 crore since 2009 and has invested across projects covering around 70 million square feet in markets such as MMR, NCR, Bengaluru, Pune and Chennai. 

The broader ASK Asset & Wealth Management Group, backed by Blackstone, manages assets exceeding ₹81,000 crore as of February 28, 2026. 

Read More: Upcoming NFO: Invesco Mutual Fund Files Draft for India BSE Sensex Index Fund! 

Conclusion 

The successful exits from the Mumbai and Gurgaon projects underscore ASK Property Fund’s approach of investing in residential developments with strong sales potential and achieving returns through structured exit strategies. 

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