Gulshan Homz raises Rs 150 crore equity funding from ASK Group for Noida housing project

Realty firm Gulshan Homz on Saturday said it has raised Rs 150 crore in equity funding from ASK Group to develop a housing project in Noida, Uttar Pradesh.

ASK Property Investment Advisors has invested Rs 150 crore in this upcoming housing project in the form of equity, the realty firm said in a statement.

Gulshan Homz, which has already completed projects spanning 5 million square feet in the national capital region (NCR), did not disclose how much stake it has diluted in the upcoming project to secure this funding.

“We have partnered ASK Property Investment Advisors for our next residential project,” Gulshan Homz Director Deepak Kapoor said.

The project, located adjacent to the Noida Expressway, will have 204 apartments, he added.

Amit Bhagat, Managing Director, ASK Property Investment Advisors, said, “Our maiden exposure with Gulshan Homz is based on our criteria fulfilment of quality construction, delivery track record and reputation.”

Source : The New Indian Express