ASK Property Fund, the real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group, has announced a ₹340 crore investment in a portfolio of three residential projects led by Mantra Group. The investment will facilitate acquisitions through the NCLT route and provide growth capital for an ongoing project, underscoring ASK’s commitment to high-quality developments in prime urban centres.
The portfolio includes projects in Jogeshwari (JVLR, Mumbai), Wakad (Pune), and Mundhwa (Pune). Together, they span 9 acres in Jogeshwari, 5 acres in Wakad, and 8 acres in Mundhwa, offering expansive layouts and diverse configurations tailored to end-user demand. The JVLR project benefits from connectivity to major business hubs via the Western and Eastern Express Highways, while the Pune projects are strategically located near the city’s IT corridors.
Amit Bhagat, Co-founder, CEO & MD, ASK Property Fund, said: “We remain committed to providing growth capital for land acquisition of residential projects linked to approvals and requiring financial closure of up to ₹500 crore.”
Bhavin Jain, CIO, ASK Property Fund, added: “We are delighted to collaborate with Mantra Group on these acquisitions. Their proven track record, strong brand presence, and prime locations will generate robust interest from homebuyers, as reflected in Mundhwa’s ongoing project.”
Rohit Gupta, CEO, Mantra Properties, commented: “This collaboration comes at a very opportune time. Two of the projects had been stuck for years, leaving many homebuyers in a lurch. With ASK Property Fund’s investment, we will impact the lives of 576 families residing on the land parcel and another 350 families who had purchased homes in the earlier proposed development. We are committed to fulfilling these long-pending aspirations.”
This partnership strengthens ASK Property Fund’s focus on investing in high-potential residential markets while reinforcing Mantra Group’s commitment to timely delivery, customer trust, and premium housing solutions.
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