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.