Shriram-ASK Fund buys stressed property in Bengaluru
Real Estate

Shriram-ASK Fund buys stressed property in Bengaluru

Shriram Properties has acquired a stressed plotted development project from IIFL in a deal valued at around Rs 1.25 billion. This is the maiden acquisition under the co-investment platform set up recently by Shriram with the ASK Property Fund.

The transaction involves the acquisition and development of ‘Golden Ira’, a project of the Golden Gates Group that was a stressed asset with lending entities that are a part of the IIFL Group.

Golden Ira is an approved plotted development project located at Dodballapur in North Bangalore, with an aggregate saleable area of around 1 million square feet. The project has the necessary approvals in place already and also partially completed infrastructure.

Shriram Properties acquired the Project from IIFL Group entities through Shriram Properties Housing Projects Pvt Ltd, a wholly-owned subsidiary of the company.

“This is yet another successful acquisition of a stressed asset by us in recent months. This addition will strengthen our launch pipeline for FY23, and we will focus on unlocking value through accelerated execution and timely delivery,” said Murali M, chairman and managing director of Shriram Properties.

In October, ASK Property Fund, the alternate asset investment arm of the ASK Group, agreed with Shriram to set up a Rs 500 crore investment platform for the acquisition of residential real estate projects across southern India.

See also:
Sanskar Homes buys south Delhi property for Rs 710 million
Nagpur development body's layouts to get provisional nod


Shriram Properties has acquired a stressed plotted development project from IIFL in a deal valued at around Rs 1.25 billion. This is the maiden acquisition under the co-investment platform set up recently by Shriram with the ASK Property Fund. The transaction involves the acquisition and development of ‘Golden Ira’, a project of the Golden Gates Group that was a stressed asset with lending entities that are a part of the IIFL Group. Golden Ira is an approved plotted development project located at Dodballapur in North Bangalore, with an aggregate saleable area of around 1 million square feet. The project has the necessary approvals in place already and also partially completed infrastructure. Shriram Properties acquired the Project from IIFL Group entities through Shriram Properties Housing Projects Pvt Ltd, a wholly-owned subsidiary of the company. “This is yet another successful acquisition of a stressed asset by us in recent months. This addition will strengthen our launch pipeline for FY23, and we will focus on unlocking value through accelerated execution and timely delivery,” said Murali M, chairman and managing director of Shriram Properties. In October, ASK Property Fund, the alternate asset investment arm of the ASK Group, agreed with Shriram to set up a Rs 500 crore investment platform for the acquisition of residential real estate projects across southern India. See also: Sanskar Homes buys south Delhi property for Rs 710 millionNagpur development body's layouts to get provisional nod

Next Story
Infrastructure Urban

Driving Infrastructure Forward with Trustworthy AI

At its Year in Infrastructure 2025 conference in Amsterdam, Bentley Systems reaffirmed its vision for trustworthy AI and connected digital ecosystems shaping the future of infrastructure engineering. The company unveiled AI-powered design applications and Bentley Infrastructure Cloud Connect, a unifying platform connecting data, workflows and professionals across the project lifecycle.“AI is poised to transform infrastructure,” said Nicholas Cumins, CEO, Bentley Systems. “At Bentley, our vision is for AI to empower engineers – not replace them. Trustworthy AI, built on infrastruct..

Next Story
Real Estate

Indian Real Estate Sector Sees Highest Capital Inflow in Seven Years

Equirus Capital, a leading full-service investment banking firm, has reported that India’s real estate sector has witnessed its highest capital inflow in seven years, with funds raised reaching ₹23,080 crore across 12 deals.According to Equirus Capital’s analysis, the cumulative capital raised by the sector since FY18 stands at ₹72,331 crore. Of this, Real Estate Investment Trusts (REITs) accounted for the largest share at ₹31,241 crore, followed by large-cap real estate companies at ₹20,437 crore, mid-cap players at ₹12,496 crore, and small-cap firms contributing ₹8,156 crore...

Next Story
Real Estate

India’s Flex Office Market Set for Record Growth

myHQ by ANAROCK, India’s largest workspace discovery and flexible office solutions platform, has released its Flex Office Market in India 2025 Report, revealing that India is set to become the Asia-Pacific region’s largest flexible office market. The report highlights how flexible workspaces have become a mainstream component of India’s commercial real estate, capturing a growing share of national leasing activity.“Flexible workspaces have evolved from a cost-optimisation tool to a strategic necessity,” said Utkarsh Kawatra, CEO and Co-Founder, myHQ by ANAROCK. “Average corporate d..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?