Shriram Properties Says ASK Property Fund Made an ‘Early Exit’ in Bengaluru Project

Introduction

Established in 2022, Shriram Pristine Estates and ASK property fund stands as the flagship project of the SPL-ASK co-investment platform. Involving an investment of ₹85 crores from partners. The project aims to redefine luxury living in Bangalore by offering premium amenities and spacious residences.

Table of Contents

• Shriram Pristine Has Launched a Co-investment Platform
• ASK Property Fund Earns 20%
• Early Exit of ASK Property Fund
• Frequently Asked Questions

Shriram Properties is a leading realtor from South India. It also announced the ‘early exit’ of ASK Property Fund from one of its projects in Bengaluru. That had yielded ‘significant returns’. The company said on August 27 that the investment had doubled in 18 months. The project in question is Shriram Grand 2, a residential development located in the IT hub of Whitefield.

The successful exit of ASK Property Fund demonstrates strong performance. The value-creation potential of Shriram Properties’ projects. This positive development further strengthens the reputation of Shriram Properties. As a reliable and profitable real estate developer in the region. It also highlights the company’s ability to deliver attractive returns to its investors in a short period.

Shriram Pristine Has Launched a Co-investment Platform

Shriram Properties Limited (SPL) is a leading real estate development company in South India. It proudly announces the early exit of ASK Property Fund from “Shriram Pristine Estates”. An exclusive lot development project in Doddaballapura, Bangalore. Under the SPL-ASK Co-Investment Platform.

Shriram Pristine Estates has launched a co-investment platform, with partners investing a total of Rs. 85 crores in December 2022. SPL-ASK Co-Investment platform received committed capital. The project was commissioned in January 2023. Encouraging market response has been received. Its rapid sales and quick completion have led to strong cash flows. It provided an opportunity for an early exit that created value for both partners and improved profitability for the company.

Real Estate Market: Bangalore Saw Luxury Property Deals This Year

ASK Property Fund Earns 20%

ASK Property Fund earns a 20% IRR and a 1.24x investment return on their investment within 18 months. Shriram Pristine Estates represents exceptional value creation for both stakeholders. SPL achieved a high return on project completion in terms of sales and customer handovers. The successful partnership between ASK Property Fund and Shriram Pristine Estates highlights. The effectiveness of their investment strategy.

This success demonstrates the potential for further collaboration on future projects. A positive outcome of this collaboration. It sets a solid foundation for future real estate ventures between the two firms. Shriram Pristine’s impressive financial performance demonstrates. Its expertise in delivering profitable projects.

Both partners are committed to investing in new projects and utilizing remaining commitments. Under the co-investment platform this year. Along with Shriram Pristine Estates. The SPL-ASK platform has a Rs. 200 crores at Shriram 122 West in Chennai, launched on January 24.

Early Exit of ASK Property Fund

Commenting on the development, Gopalakrishnan J, ED & Group CEO, SPL said, “We are delighted with the successful early exit of ASK Property Fund with significant returns on investments. This underscores our commitment to deliver superior value to our strategic partners. We are grateful for ASK’s trust and support. They are focused on continued growth and value creation through further investments on the co-investment platform.”

This successful exit is a testament to our strong investment strategy and execution capabilities. We look forward to further collaborations with ASK Property Fund in the future. Our partnership with ASK Property Fund has been fruitful. We are confident in our ability to achieve mutual success in future endeavors. The successful exit of ASK Property Fund further strengthens our position. As a reliable and strategic investment partner in the real estate sector.

Conclusion

Shriram Properties has expressed satisfaction with the returns generated by the Bengaluru project. Highlighting the success of its partnership with ASK Property Fund. The early exit signifies a successful investment for both parties involved. This positive outcome further solidifies Shriram Properties’ reputation. As a reliable and successful real estate developer in the Bengaluru market. The company’s ability to deliver profitable projects continues to attract investors looking for strong returns. For more information, visit openplot.

Frequently Asked Questions