ASK Property Fund, the real estate arm of ASK Asset & Wealth Management Group backed by Blackstone, has invested Rs 3.4 billion in the portfolio of Mantra Group.

The investment covers three residential projects spread across 22 acres in Mumbai and Pune. The funding will support Mantra Group in acquiring two projects through the National Company Law Tribunal route, while also providing capital for an ongoing residential development.

The projects are located near the Jogeshwari–Vikhroli Link Road in Mumbai and in Pune’s Wakad and Mundhwa localities. The capital will be used to settle outstanding dues, improve working capital and accelerate construction, particularly at the Mumbai project that had been stalled for an extended period.

Amit Bhagat, co-founder and chief executive of ASK Property Fund, said the platform remains focused on providing growth capital for residential land acquisition and projects requiring financial closure of up to Rs 5 billion.

The investment is expected to benefit hundreds of homebuyers by reviving delayed projects and enabling timely delivery across the portfolio.