Shriram Properties Gives Early Exit to ASK Property Fund in 'Shriram Pristine Estates', Realizing 20% IRR in Less Than 18 Months

Shriram Properties Ltd. has announced the successful early exit of ASK Property Fund from 'Shriram Pristine Estates', a plotted development project in Doddaballapura, Bangalore. The project, which was launched in Jan’23, received an encouraging market response and its accelerated sales and expedited completion led to stronger cashflows, presenting an opportunity for an early exit. ASK Property Fund realized a return of 20% IRR and an investment multiple of 1.24x on their investment in less than 18 months. SPL has also realized greater returns in the project, which is nearing completion, in terms of sales and customer handovers. Both partners are committed to investing in new projects and utilizing the remaining commitments under the co-investment platform during this year.