+
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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code