ASK Property Fund on Tuesday announced a successful exit of ₹650 crore from Mahagun Group’s Noida project, generating an internal rate of return (IRR) of 21 per cent and an investment multiple of 2.1x on an initial investment of ₹310 crore.
Alongside this exit, the fund also announced the complete exit of its ₹1,500 crore Debt Fund, raised in 2018, achieving an investment multiple of 1.83x.
ASK Property Fund had deployed both growth and solution capital into the Noida project in 2021. The project spans 2.4 million square feet of saleable area.
Amit Bhagat, Co-founder, CEO and MD, ASK Property Fund, said, “With this, we are also proud to announce the complete exit of ₹1,500 crore in our Debt Fund, raised in 2018, with an investment multiple of 1.83x. The fund’s performance underscores the attractiveness of counter-cyclical opportunities in real estate, where judicious entry points and diligent risk/asset management continue to create value for investors.”
ASK Property Fund, the real estate private equity arm of the Blackstone-backed ASK Asset and Wealth Management Group, focuses on private equity investments in the self-liquidating residential segment.
Since 2009, it has raised ₹9,100 crore and invested in projects spanning 70 million square feet across Mumbai Metropolitan Region, NCR, Bangalore, Pune, and Chennai.
ASK Asset and Wealth Management Group managed assets of over ₹81,000 crore as of February 28, 2026.
Published on March 24, 2026