ASK Property Fund Invests Rs 340 Crore in Mantra Group Projects

ASK Property Fund, the real-estate investment arm of the Blackstone-backed ASK Asset & Wealth Management Group, has announced a strategic investment of Rs 340 crore in three residential projects by Pune-based Mantra Group. The funding aims to revive stalled developments and support growth in key urban housing markets in Mumbai and Pune.

The investment spans three projects covering over 22 acres, including one near the Jogeshwari-Vikhroli Link Road (JVLR) in Mumbai and two in Pune’s Wakad and Mundhwa suburbs. Two of these projects are being acquired through the National Company Law Tribunal (NCLT) insolvency process, allowing Mantra Group to take control of previously stalled assets. Part of the funds will settle outstanding dues to financial creditors, while the remainder will accelerate construction and ensure timely delivery.

According to Amit Bhagat, CEO and MD of ASK Property Fund, the move aligns with the fund’s strategy of providing growth capital for residential projects requiring financial closure and regulatory approvals. Rohit Gupta, CEO of Mantra Group, highlighted that the capital injection comes at a critical time for homebuyers, with hundreds of families awaiting possession in Mumbai and Pune.

This investment highlights the importance of structured private capital in reviving residential developments. Similar examples of premium urban housing include Sobha Galera Kannamangala and Prestige Evergreen Whitefield, which demonstrate how timely investment can help complete stalled projects and deliver quality homes.

By combining financial strength and strategic planning, ASK Property Fund and Mantra Group aim to not only complete their projects but also boost confidence in India’s mid-to-premium residential market, benefiting both developers and homebuyers.

Also read: Delhi-NCR Residential Launches Jump 39% in Q4 2025 on Infrastructure Boost