Bhavin Jain News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The aggregate revenue potential of the luxury project in Gurugram is about ₹800 crore over the next five years, the company said

Mumbai-based Damji Shamji Realty raised ₹95 crore from the bond market in mid-December despite being assigned a D rating by India Ratings and Research, according to a stock exchange disclosure. ASK Real Estate Special Opportunities Fund IV was the sole investor, a senior company official confirmed.

Damji Shamji Realty Fund Raise: Recently, a real estate company with a D rating (indicating default) raised ₹95 crore from the private placement bond market - sending early signs of the evolution of the junk bond market in India.

ASK Property Fund, the real estate private equity arm of ASK Group, has invested Rs 225 crore in a residential project by Kumar Realty in Pune's Hinjewadi. The investment was made through ASK Real Estate Special Opportunities Fund IV (RESOF IV). The project targets affordable and mid-income homebuyers and is part of an integrated township. ASK Property Fund has a track record of 15 investments in Pune's real estate market.

According to market sources, Hinjewadi has witnessed sales of over 9,000 units in the last two years. Year-on-year price has appreciated by about 6-8 percent in the region, the company said.