ASK Property Fund, the real estate arm of Blackstone-backed ASK Asset & Wealth Management Group, has invested Rs 340 crore in Mantra Group's portfolio, which includes three residential projects spread across 22 acres in Mumbai and Pune.

This investment will support Mantra Group in acquiring two projects through the National Company Law Tribunal (NCLT) route, as well as assist an ongoing residential project. The projects are located near Jogeshwari-Vikhroli Link Road in Mumbai and in Pune’s Wakad and Mundhwa localities. "We remain committed to providing growth capital for land acquisition of residential projects requiring financial closure of up to Rs 500 crore," said Amit Bhagat, Co-founder and CEO of ASK Property Fund.

This investment is expected to impact the lives of hundreds of families, particularly in the Mumbai project, which had been stalled for a significant time. The funds will also be used to settle outstanding dues and improve working capital requirements.