ASK Property PE infuses Rs 1 bln in Shriram Properties' housing project

Contify Investment – Fri 21 Sep, 2012 6:23 PM IST

New Delhi: ASK Investment Holdings Pvt Ltd' real estate private equity arm ASK Property Investment Advisors Pvt Ltd is investing funds to the tune of Rs 1 billion in real estate developer Shriram Properties Ltd.

ASK Property Investment Advisors will invest funds in the special purpose vehicle (SPV) established for carrying out a 16-acre project in Bangalore.

"The project comprises villas and apartments and is expected to have a sales value of around Rs 700 crore (Rs 7 billion). The project is located in the growth corridor off Sarjapur Road, near Wipro campus," M Murali, managing director of Shriram Properties said.

The residential project is targeted at the middle and upper middle income segment, Murali added.

Bangalore-based Shriram Properties offers real estate development and building services for housing and commercial properties.

ASK Property Investment Advisors recently infused Rs 1 billion in Mantri Developers for its luxury residential project in Bangalore.

Copyright Contify.com

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