Blackstone-backed ASK Property Fund has entered into a platform arrangement with Bhumika Group to invest ₹500 crore across the group’s real estate projects in lucrative micro markets across the National Capital Region (NCR).
Under the arrangement, ASK Property Fund will initially invest ₹125 crore in a plotted development project in Faridabad. The project is spread across 20 acres.
The investment comes as infrastructure development continues to reshape connectivity across the NCR. Key infrastructure upgrades, including the Delhi-Mumbai Expressway link, the proposed FNG Expressway, the Faridabad-Jewar corridor and Noida International Airport, are expected to improve regional connectivity and boost buyer interest.
Faridabad also offers lower entry pricing compared with more mature NCR markets, making the city a compelling proposition for buyers.
Bhavin Jain, Co-Head & CIO, ASK Property Fund, said the platform arrangement with Bhumika Group reflects continued focus on creating scalable partnerships in residential real estate.
Jain said plotted developments are seeing strong interest from buyers, particularly in emerging micro-markets where infrastructure growth and affordability can support long-term value creation.
Uddhav Poddar, Chairman and Managing Director, Bhumika Group, said more than a capital partnership, it brings together two institutions that share a common philosophy of long-term value creation, disciplined execution and the highest standards of governance.
Poddar said the infrastructure developments are creating one of the most compelling real estate opportunities in the NCR.
ASK Property Investment Advisors is the alternate asset investment arm of the ASK group, set up to manage and advise real estate-dedicated funds. Its focus is on private equity investments in the self-liquidating residential segment.
ASK PIA has raised ₹10,000 crore since 2009.
The ₹500 crore platform arrangement marks a further expansion of ASK Property Fund’s residential real estate investment strategy in the NCR, with the initial ₹125 crore allocation focused on a 20-acre plotted development in Faridabad. The partnership is positioned around emerging micro-markets, infrastructure-led connectivity and residential demand.
