ATS Group has received an amount of Rs 147 crore from ASK Property Investment Advisors, the real estate private equity arm of the ASK Group, for setting up a residential project in Gurgaon.
The proposed investment is part of Rs 1,000 crore raised through the 'ASK Real Estate Special Opportunities Fund' in 2012. The company will make the investment through structured instruments that will ensure 30 per cent economic interest in the project.
ASK Property has already made four investments: one in Rajesh Builders, Mumbai - Rs 100 crore; one in Godrej Properties, Mumbai - Rs 100 crore; one in Mantri Developers, Bengaluru - Rs 77 crore ; and the other in Shriram Properties, Bengaluru - Rs 100 crore.