ASF Group’s arm, ASF Insignia SEZ Pvt Ltd, is developing a 50-acre integrated commercial IT office campus in Vatsal Valley, Gurugram.ASF Insignia SEZ and its subsidiaries have secured a commitment of equity and quasi-equity investments of around Rs 1,250 crore from Mumbai-based Alpha Alternatives.
Anil Saraf of ASF Group said: “Alpha Alternatives’ investment strengthens the long-term foundations of the ASF Insignia campus and our strategy to build an institutionally driven office ecosystem.”
The focus is on balance sheet strength, asset quality and creating a campus that continues to meet the evolving needs of large enterprises and global capacity centers, on a cost-optimal basis, he added.
Kaushal Biyani, Alpha Alternatives, said the company is investing in a high-end office building on a large scale, covering an area of approximately 4.5 million square feet. The total potential of this 50 hectare project is 7 million square meters.
Delhi-based ASF Group develops customized and state-of-the-art IT infrastructure and commercial buildings. The Group also offers its clients a full range of facility management services across all its projects and properties.
ASF has already delivered over 5 million square feet of workspace and established a tangible footprint in Northern India by completing multiple fully leased projects to leading multinationals.
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