ASK Property Fund, the real estate investment arm of the Blackstone-backed ASK Asset and Wealth Management Group, has successfully exited two residential real estate investments in Mumbai and Gurgaon, with a combined exposure of Rs 400 crore.
The fund invested Rs 190 crore in Kalpataru Advay, a redevelopment project in Borivali, Mumbai in March 2024. The project is spread across 6.1 acres with 310 residential units. Strong sales momentum allowed the fund to exit at Rs 244 crore, delivering an 18% IRR and a 1.3x return multiple.
In Gurgaon, the fund put in Rs 98 crore in Trevoc Royal Residences in February 2024. The project spans 2.06 acres with 172 units. It achieved 65% sales within roughly 18 months of launch, enabling a full exit at Rs 141 crore with a 21% IRR and a 1.44x investment multiple.
Bhavin Jain, Chief Investment Officer of ASK Property Fund, said the exits reflect the fund's focus on identifying strategic growth opportunities with reputed developers in established micro markets of top cities.
ASK Property Fund has raised Rs 9,100 crore since 2009 and has invested across projects spanning 70 million square feet in MMR, NCR, Bengaluru, Pune, and Chennai. The group manages total assets of over Rs 81,000 crore as of February 2026.
For Gurgaon specifically, this exit from Trevoc Royal Residences is another sign that institutional confidence in the city's residential market remains strong, with quality projects in established locations continuing to deliver solid returns. Don't settle too fast here are more residential properties in Gurgaon to consider