ASF Insignia, a large integrated commercial IT office campus located in Vatsal Valley, Gurugram, has secured an equity and quasi-equity investment of approximately ₹1,250 crore from Mumbai-headquartered Alpha Alternatives. The transaction underscores continued institutional interest in high-quality office real estate assets in the National Capital Region.
The investment will be infused in tranches, with the first tranche of ₹450 crore already received. The capital will be deployed to strengthen ASF’s balance sheet through debt reduction, support targeted infrastructure and amenity upgrades, enhance building refinements, and improve occupier experience across the campus. The objective is to revitalize leasing momentum and reposition ASF Insignia as a long-term prime commercial office project.
Commenting on the development, Mr. Anil Saraf, ASF Insignia, said: “The investment from Alpha Alternatives reinforces the long-term fundamentals of ASF Insignia and our strategy of building an institutionally driven office ecosystem. The focus is on balance sheet strength, asset quality, and creating a campus that continues to meet the evolving needs of large enterprises and global capability centres, on cost optimal basis.”
Mr. Kaushal Biyani, Alpha Alternatives, added: “In line with our investment philosophy of long-term value creation, rigorous risk management, and consistent performance across market cycles, we are proud to partner with ASF Insignia. This high-quality office asset, spanning approximately 4.5 million sq. ft., offers a compelling blend of quality and value. We look forward to working closely with the ASF team to revitalize the complex and position it as a future-ready, integrated office campus in Gurugram.”
The partnership follows ASF Insignia’s earlier institutional association with JP Morgan, which delivered over 2.5x returns, and marks a renewed phase of growth backed by long-term capital.
ASF Insignia’s occupier profile reflects strong demand for large-format office environments. Previously, Smartworks leased approximately 4.5 lakh sq. ft. at the campus, validating the asset’s scale and enterprise appeal.
Mr. Neetish Sarda, Smartworks, noted: “ASF Insignia is among the better planned office complexes of NCR. With its amenity offerings, Grade A buildings, and landscaped open spaces, it provides quality real estate solutions at attractive price points. Our engagement with ASF is strategic and long term, supporting both immediate and future expansion needs.”
This investment positions ASF Insignia to strengthen its role as a premier commercial office destination in NCR, combining institutional capital, operational upgrades, and occupier-focused enhancements.
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