ATS Group invest Rs. 2,000crore for affordable housing

By Realty Quarter Bureau 

ATS Group, a National Capital Region (NCR)-based developer, plans to invest close to Rs 1,500- 2,000 crore for construction mid- income and affordable homes under a new entity ‘HomeKraft’.

The fund will be raised from a mix of internal accruals, debt and private equity funds. “We are in advance talks with a major PE firm to raise funds for HomeKraft in the next 2-3 months,” the company said in a release.

Prasoon Chauhan has been appointed as the CEO of HomeKraft. Previously he has worked with ICICI Bank and Yes Bank.

The company is looking to clock sales of 6000-6500 units in the next 3-5 years with expected revenue in the range of Rs 4,000-5,000 crore.