ASK Property Fund, Bhumika Group Sign ₹500 Crore Platform Deal
Udaipur | Blackstone-backed ASK Property Fund has announced the signing of a ₹500 crore platform agreement with Bhumika Group to jointly invest in multiple real estate developments across high-potential micro-markets in the National Capital Region (NCR), including residential plotted townships.
As part of the partnership, ASK Property Fund has proposed an initial investment of ₹125 crore in a 20-acre plotted residential development in Faridabad, marking the first project under the newly formed platform.
Faridabad has emerged as one of NCR's fastest-growing real estate destinations, supported by ample land availability, improving infrastructure, and competitive property prices. Connectivity through the Delhi–Mumbai Expressway, the proposed FNG Expressway, the Faridabad–Jewar Corridor, and the upcoming Noida International Airport is expected to further strengthen the region's investment appeal.
Compared to more mature NCR markets, Faridabad continues to offer relatively affordable entry prices, making it an attractive destination for both homebuyers and investors. The planned project aims to capitalize on the growing demand for plotted residential developments, which offer greater flexibility, affordability, and long-term appreciation potential.
Commenting on the partnership, Bhavin Jain, Co-Head and Chief Investment Officer of ASK Property Fund, said the agreement reflects the fund's strategy of building large-scale partnerships in India's residential real estate sector, particularly in emerging micro-markets benefiting from rapid infrastructure development. He added that the investment aligns with the fund's focus on strong corporate governance, disciplined risk management, and delivering attractive risk-adjusted returns to investors.
Uddhav Poddar, Chairman and Managing Director of Bhumika Group, described the agreement as a significant milestone in the company's growth journey. He said the collaboration goes beyond capital investment and represents a partnership between two organizations committed to long-term value creation, disciplined execution, and the highest standards of corporate governance.
He further noted that the rapidly expanding infrastructure in and around Faridabad is creating one of the most promising real estate opportunities in the NCR. Bhumika Group identified this potential early and has strategically positioned itself to develop high-quality, future-ready projects. The partnership with ASK Property Fund, he said, will strengthen the company's ability to expand responsibly while maintaining its commitment to execution excellence, transparency, and long-term value creation for customers and stakeholders.
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