Blackstone-backed ASK Property Fund has signed a platform arrangement to invest ₹500 crore in Bhoomika Group real estate projects across micro markets in the National Capital Region (NCR), according to a report by The Hindu BusinessLine.
As part of the arrangement, ASK Property Fund plans to invest ₹125 crore in a plotted development project located in Faridabad. The project is spread across 20 acres, The Hindu BusinessLine reported.
Investment Structure and First Tranche
| Investment detail | Figure |
|---|---|
| Total platform arrangement | ₹500 crore |
| Initial Faridabad project investment | ₹125 crore |
| Project land area | 20 acres |
The platform arrangement targets "lucrative micro markets in NCR," according to the report. The Faridabad deployment represents the first project under the arrangement and amounts to 25% of the total ₹500 crore commitment.
Infrastructure-Led Demand Drivers
According to The Hindu BusinessLine, key connectivity upgrades are expected to improve regional access and strengthen buyer interest. These include:
- Delhi-Mumbai Expressway link
- Proposed FNG Expressway
- Faridabad-Jewar corridor
- Noida International Airport
With lower entry pricing than more mature NCR markets, Faridabad offers a compelling proposition for buyers, the report said.
Management Commentary
Bhavin Jain, Co-Head & CIO of ASK Property Fund, said the platform arrangement with Bhoomika Group reflects the firm's "continued focus on creating scalable partnerships in residential real estate."
"Plotted developments are seeing strong interest from buyers, particularly in emerging micro-markets where infrastructure growth and affordability can support long-term value creation," said Jain.
Uddhav Poddar, Chairman and Managing Director of Bhumika Group, said the partnership is "more than a capital partnership" — it brings together two institutions that share a common philosophy of long-term value creation, disciplined execution and the highest standards of governance. The report uses both "Bhoomika" and "Bhumika" spellings for the group.
"The infrastructure developments are creating one of the most compelling real estate opportunities in the NCR," said Poddar.
About ASK Property Investment Advisors
ASK Property Investment Advisors is the alternate asset investment arm of the ASK group, set up to manage and advise real estate-dedicated funds. The focus is on private equity investments in the self-liquidating residential segment, according to The Hindu BusinessLine.
According to the report, ASK PIA has raised ₹10,000 crore since 2009. The report was published on August 8, 2026, by The Hindu BusinessLine's Mumbai Bureau.
Deal Overview
- Platform arrangement: ₹500 crore investment in Bhoomika Group real estate projects across NCR micro markets
- First project: ₹125 crore in a 20-acre plotted development in Faridabad
- Connectivity upgrades cited: Delhi-Mumbai Expressway link, proposed FNG Expressway, Faridabad-Jewar corridor, Noida International Airport
- ASK PIA cumulative fundraising: ₹10,000 crore since 2009
The transaction provides a concrete example of private equity investment in the self-liquidating residential segment in India's NCR. ASK PIA, the alternate asset investment arm of the ASK group, has raised ₹10,000 crore since 2009, according to the report.
Sources:
