ASK Property Fund Invests Rs. 340 Cr in Mantra Group Projects

ASK Property Fund, the real estate investment arm of Blackstone-backed ASK Asset & Wealth Management Group, has invested Rs. 340 crore in Mantra Group’s residential real estate portfolio, strengthening funding support for key housing developments in Mumbai and Pune.

The investment covers three residential projects spread across 22 acres, reinforcing ASK’s focus on funding scalable and execution-ready housing assets.

The capital infusion will enable Mantra Group to acquire two residential projects through the National Company Law Tribunal (NCLT) route, while also supporting an ongoing residential development.

Key Highlights

• ASK Property Fund invests Rs. 340 crore in Mantra Group projects
• Funds support NCLT acquisitions and stalled Mumbai housing project
• Residential projects span Mumbai JVLR, Pune Wakad and Mundhwa

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The projects are strategically located near the Jogeshwari-Vikhroli Link Road (JVLR) in Mumbai and in Pune’s high-demand residential hubs of Wakad and Mundhwa.

According to Amit Bhagat, Co-Founder and CEO of ASK Property Fund, the platform continues to focus on providing growth capital for land acquisition, particularly for residential projects requiring financial closure of up to Rs. 500 crore. The investment aligns with ASK Property Fund’s broader strategy of partnering with credible developers to unlock stalled or acquisition-driven housing opportunities.

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A significant portion of the funding will be used to settle outstanding dues, strengthen working capital, and accelerate project execution. The investment is expected to have a direct positive impact on hundreds of families, especially in the Mumbai project, which had remained stalled for a prolonged period. By facilitating project revival and completion, the funding aims to restore homebuyer confidence and support timely housing delivery in key urban markets.