MY’s Creador invests $16.2m in India’s Ashiana

Artist impression of a development, taken from Ashiana's website.

Malaysia-based private equity firm Creador has invested one billion Indian rupees ($16.2 million) for a minority stake in India-listed real estate company Ashiana Housing Ltd.

The stake in Ashiana, which has a market capitalisation of $343 million is Creador’s 14th investment. The transaction was done via Creador’s affiliate Idria Ltd.

Ashiana is a leading developer in the mid-income housing segment in North India, with a reputation for offering premium quality housing options in upcoming industrial towns, Creador’s statement said.

Also read: GIC invests $35m in Chennai’s Jain Housing

The firms said Ashiana, led by the team of Vishal, Ankur and Varun Gupta, had demonstrated a 33% compounded annual growth rate in the area booked between fiscal years 2010 and 2014.

Ashiana has 13 ongoing projects with a saleable area of 6.4 million sq ft, scheduled for delivery in the next two to three years, and plans to develop another 15 projects with a saleable area of 8.4 million sq ft by 2020.

In its track record, Ashiana has successfully established its presence in North Indian – Rajasthan, Delhi NCR and Jharkhand – and has delivered over 10.7 million sq ft of residential and commercial space, providing homes to over 8500 families.

Creador founder and CEO Brahmal Vasudevan said: “Creador is delighted to have this opportunity to partner with Vishal, Ankur and Varun in shaping Ashiana’s next phase of growth.

“All three of them are passionate entrepreneurs, who have developed Ashiana into a leading brand in the mid-income housing space delivering high-quality homes.”

Also Read: GIC buys stake in India’s Nirlon for $198m

Ashiana managing director Vishal said: “We were impressed by the deep understanding of Ashiana that Creador demonstrated. I am sure they will add significant value to the future success and growth of Ashiana.”

Ashiana is a leading developer in the mid-income housing segment in North India with a reputation for offering premium-quality housing options in upcoming industrial towns, which is fuelled by accelerating urbanisation and growing aspirations of the middle class in India.

The real estate player’s strategy is to identify upcoming towns where demand for modern houses is high as well as to venture into newer housing concepts like senior living homes.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.