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Shriram Properties signs MoU with ASK Property Fund

31 Oct 2022 Evaluate

Shriram Properties and ASK Property Fund (ASK) have signed a Memorandum of Understanding (MoU) for setting up an investment platform for acquisition of residential real estate projects. Under the platform arrangement, Shriram and ASK will co-invest in plotted and residential developments projects in Bengaluru, Chennai, and Hyderabad. Aggregate commitments towards the platform will be up to Rs 500 crore and the committed capital is expected to be deployed over the next 12 months. ASK will invest through its managed Category II AIF.

Shriram and ASK have already committed their first investment under the new platform for a plotted development project in North Bangalore. The platform will invest up to Rs 125 crore towards acquisition and development of this project that already has necessary approvals and also partially completed infrastructure development. The proposed project is to be launched during Q3 FY23, with saleable area of approximately 8 lakh square feet.

Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.

Shriram Properties Share Price

96.84 5.27 (5.76%)
08-May-2026 16:59 View Price Chart
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