Prime Highlight
- ASK Property Fund has committed ₹340 crore to three residential projects by Pune-based Mantra Group, strengthening its focus on Pune’s high-demand housing corridors.
- The investment reflects strong confidence in Mantra Group’s execution capability and the sustained homebuyer demand in areas like Wakad and Mundhwa.
Key Facts
- The funding will be used for NCLT-led project acquisitions, ongoing construction, settlement of dues to financial creditors, and working capital requirements.
- ASK Property Fund, backed by Blackstone through ASK Asset & Wealth Management Group, is open to funding select residential projects with investments of up to ₹500 crore.
Background
ASK Property Fund has invested ₹340 crore in residential projects developed by Pune-based Mantra Group, reinforcing its focus on the city’s growing housing market. The investment covers three projects in total, with two major developments located in Pune’s Wakad and Mundhwa areas.
The real estate fund, which is part of the Blackstone-backed ASK Asset & Wealth Management Group, said the investment will help Mantra Group acquire projects through the National Company Law Tribunal (NCLT) route and support the construction of an ongoing residential development. A portion of the funds will be used to settle outstanding dues to financial creditors, while the remaining amount will be deployed to meet working capital requirements.
Both Pune projects are currently under construction and are located in well-connected residential corridors that continue to attract strong homebuyer interest. ASK Property Fund said the investment is backed by Mantra Group’s execution capability, established brand presence, and demand visibility, particularly in the Mundhwa project, which has already shown steady sales traction.
Amit Bhagat, co-founder, CEO, and managing director of ASK Property Fund, said the firm remains focused on providing growth capital for residential projects that have approvals in place and require financial closure. He added that ASK is open to funding opportunities of up to ₹500 crore in select projects.
Bhavin Jain, chief investment officer at ASK Property Fund, said the Pune developments offer attractive entry valuations and a strong margin of safety. He noted that partnering with reputed local developers in prime locations aligns with the fund’s long-term investment strategy.
ASK Property Fund, operated by ASK Property Investment Advisors Pvt Ltd, manages and advises real estate–focused funds. It focuses on self-liquidating residential assets. Since 2009, the platform has raised over ₹8,700 crore from family offices, HNIs, ultra-HNIs, and institutional investors.
The latest investment highlights continued confidence in Pune’s residential real estate market amid steady demand and ongoing urban growth.
