ASK, ISIR Raise Rs 5 Billion for Luxury Housing Fund

27 May 2025 CW Team

ASK Property Fund, in partnership with India Sotheby鈥檚 International Realty (ISIR), has raised Rs 5 billion within three months of launching its luxury-focused Alternative Investment Fund, ASK Curated Luxury Assets Fund鈥揑 (ASK CLAF I). The fund is registered with SEBI as a Category II Alternative Investment Fund.

This equity-focused vehicle will invest in early-stage luxury residential developments across India鈥檚 major cities, including second homes and holiday properties. The fund is backed by several of India鈥檚 prominent family offices and Ultra-High-Net-Worth Individuals (UHNIs) and aims to deliver at least twice the return on invested capital.

ASK CLAF I plans to deploy capital immediately and targets a total corpus of Rs 15 billion, including a Rs 5 billion green shoe option. The strategy hinges on investing at attractive entry valuations and unlocking profits through structured investments in high-end real estate.

Amit Bhagat, CEO and Managing Director at ASK Property Fund, noted that the partnership with ISIR offers unique access to premium land parcels and high-value projects. 鈥淭his collaboration allows us to secure exclusive deals for curated opportunities, maximising returns for our investors,鈥� he added.

ASK Property Fund is the real estate arm of the Blackstone-backed ASK Asset and Wealth Management Group, while ISIR serves as co-sponsor and strategic advisor.

12 Jun 2025

Inspira Realty Plans 8-10 Redevelopment Projects in Mumbai

Inspira Realty, a leading Mumbai-based developer and a part of Inspira Global, has announced plans to undertake 8鈥�10 new redevelopment projects across the city鈥檚 key western and southern corridors. With this expansion, the firm is poised to exceed its current Gross Development Value (GDV) of Rs 40 billion and drive forward its urban transformation agenda. The company has commenced the financial year with two development agreements signed in Borivali and Santacruz (W) and is actively negotiating further acquisitions. These projects, expected to span a construction area of 4 million sq ..

Real Estate

12 Jun 2025

U-Sphere Bags First Private Project with Ceenex in Thiruvananthapuram

U-Sphere, the high-tech construction arm of ULCCS, has secured its first major private sector project: the design and construction of a new training facility for Canada-based Ceenex Global Computer Private Limited in Sasthamangalam, Thiruvananthapuram. The agreement was signed by Remeshan Palery, Director, U-Sphere, and Muhammed Irfan, Director, Ceenex Global. As part of the project, U-Sphere will deliver the core structural framework and building envelope within a fast-tracked seven-month schedule. This facility will serve as a key hub for Ceenex鈥檚 initiatives across e-governance, heal..

Equipment

12 Jun 2025

Godrej Motor Solutions Targets Rs 10 billion Revenue by FY28

The Motor Solutions business of the Godrej Enterprises Group is aiming for Rs 10 billion in revenue by FY28, with 20 per cent of this expected from exports. For FY26, the business is targeting Rs750 crore, driven by demand growth across electric vehicles (EVs), HVAC, pumps, and actuators in both domestic and international markets. Xercsis Marker, EVP & Head, Motor Solutions Business, Godrej Enterprises Group, said, 鈥淲e are strengthening our manufacturing capabilities through significant R&D investments and advanced technology adoption. We continue to invest in t..