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ASK Property Fund has invested INR 340 crore in a portfolio of three residential projects being developed by Mantra Group, strengthening its exposure to the Mumbai and Pune housing markets. The investment will support the acquisition of two projects through the NCLT resolution process, while also providing funding for an ongoing residential development. A portion of the capital will be used to settle outstanding dues of financial creditors, with the remaining amount allocated towards working capital requirements to ensure timely execution. The transaction reflects sustained institutional interest in residential real estate, particularly in projects with resolution-led acquisition opportunities and established urban demand across Maharashtra's key housing markets.
ASK Property Fund has committed an investment of INR 340 crore into three residential projects promoted by Mantra Group, reinforcing institutional confidence in India's urban housing sector. The investment portfolio includes one project located in Mumbai and two projects in Pune, both markets that continue to attract long-term residential demand supported by employment hubs and infrastructure growth. Advertisement
The funding will play a dual role for Mantra Group. Two of the residential projects will be acquired through the National Company Law Tribunal (NCLT) route, enabling resolution-driven consolidation of stalled or stressed assets. The third project is an ongoing residential development that will receive growth capital support to ensure construction continuity and timely delivery. This approach highlights the increasing role of structured private capital in unlocking value from resolution opportunities while supporting active project execution.
According to the company, part of the allocated capital will be utilised to settle outstanding dues owed to financial creditors, helping clean up balance sheets associated with the projects. The remaining funds will be deployed to meet working capital requirements, including construction costs and operational expenses, which are critical for maintaining project momentum and meeting delivery timelines.
ASK Property Fund is the real estate investment platform of ASK Asset & Wealth Management Group, which is backed by Blackstone. Over the years, the platform has built a sizeable presence in Indian real estate, focusing on residential, commercial and special situation investments. Since its inception in 2009, ASK Property Fund has raised more than INR 8,700 crore, reflecting strong investor confidence in its asset selection and execution capabilities.
The latest investment aligns with broader market trends where institutional investors are selectively deploying capital into residential projects with clear visibility on demand, execution, and exit potential. Resolution-led acquisitions through formal legal mechanisms such as the NCLT have emerged as a preferred strategy, offering opportunities to revive projects while safeguarding stakeholder interests.
For Mantra Group, the investment provides both financial flexibility and execution support, strengthening its ability to move forward with key developments in Mumbai and Pune. The transaction underscores the growing collaboration between developers and alternative investment funds to address capital needs, accelerate project completion, and enhance confidence among homebuyers in India's residential real estate market.
Source - PTI
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