A consortium led by ASK Property Fund, KREEVA, part of the Kanodia Group, and Shapoorji Pallonji Real Estate, announced an joint investment of over ₹270 crore in a luxury housing project in Sector 46, Gurugram. The project is spread over 1.74 acres and is likely to achieve top-line revenues of over ₹1,200 crore in the next five years.
Sector 46 is seen as an established residential market, drawing much of its strength from proximity to major job corridors and social infrastructure. According to the company, this strategic location strengthens the project’s positioning.
The project is touted to fetch good revenues. Bhavin Jain, Chief Investment Officer, ASK Property Fund, elaborated on this: “The prime location within an established catchment area significantly minimizes risk, making this a compelling investment opportunity for us.
Venkatesh Gopalakrishnan, Director of the Group Promoter’s Office and Managing Director of Shapoorji Pallonji Real Estate, said, “Our partnership with KREEVA and ASK Property Fund for the Sector 46 project underlines our commitment to delivering high-quality residential developments that meet the evolving needs of discerning customers.
Working with Shapoorji Pallonji Real Estate allows us to offer this luxury project with a world-class experience,” said Gautam Kanodia, founder of KREEVA and co-founder of the Kanodia Group.
“Securing strategic investment from ASK Asset & Wealth Management Group is a critical step for KREEVA, enabling us to broaden our expansion plans,” said Mayank Jain, CEO of KREEVA.
ASK Property Fund is the alternative asset investment arm of the ASK Group, dedicated to managing and advising real estate-dedicated funds. Kanodia Group, which has a presence in cement and personal hygiene products manufacturing, has lately ventured into real estate and media businesses.
