Realty firm ASF Group has successfully raised ₹1,250 crore from Alpha Alternatives to fund its ongoing prime office campus development in Gurugram and reduce existing debt. The company announced on Thursday that it has already received ₹450 crore from the Mumbai-headquartered investment firm, with the remaining funds expected to be disbursed within the next six months.

Project Details and Investment Structure

ASF Group's subsidiary, ASF Insignia SEZ Pvt Ltd, is developing a comprehensive 50-acre integrated commercial IT office campus at Vatsal Valley, Gurugram. The investment represents a significant commitment from Alpha Alternatives in the form of equity and quasi-equity funding.

Campus Specifications and Scale

The Vatsal Valley project represents a substantial development opportunity with significant scale potential. Kaushal Biyani from Alpha Alternatives highlighted that the company is investing in a high-quality office asset spanning approximately 4.5 million sq ft in its current phase.

Strategic Vision and Market Positioning

Anil Saraf of ASF Group emphasized that the investment from Alpha Alternatives reinforces the long-term fundamentals of the ASF Insignia campus and supports the company's strategy of building an institutionally driven office ecosystem. The focus remains on maintaining balance sheet strength, ensuring superior asset quality, and creating a campus that continues to meet the evolving needs of large enterprises and global capability centres on a cost-optimal basis.

Company Background and Track Record

Delhi-based ASF Group specializes in developing build-to-suit and state-of-the-art IT infrastructure and commercial buildings. The company provides a comprehensive range of facility management services to customers across its projects and properties. ASF Group has established a strong presence in Northern India, having already delivered over 5 million sq ft of workspaces and completed multiple projects that are fully leased to leading multinational corporations.

Investment Significance

The substantial funding from Alpha Alternatives represents a major milestone for ASF Group's expansion plans and demonstrates investor confidence in the Gurugram office market. The investment structure combines equity and quasi-equity components, providing ASF Group with the necessary capital to advance its ambitious campus development while strengthening its financial position through debt reduction.

BASF India , a leading chemical company, has reported a decline in sales and profit for the first half of the fiscal year 2026, amid challenging market conditions. The company also provided updates on its ongoing strategic initiatives, including business demergers and capacity expansions.

Financial Performance

BASF India's consolidated sales fell by 4% to Rs 7,920.00 crores in the six months ending September 2025. The company's profit before tax (PBT) declined more significantly, dropping by 27% compared to the same period last year. This decrease was attributed to higher input costs and an unfavorable product mix.

Segment Performance

The company's performance varied across different business segments:

Strategic Initiatives

1. Agricultural Solutions Demerger: BASF India is proceeding with the demerger of its agricultural solutions business. The new company, BASF Agricultural Solutions India Limited, has been incorporated. Shareholders will receive a one-to-one share entitlement ratio. The demerger is expected to be completed during the financial year 2026-27.

2. Global Coatings Business Transaction: BASF and Carlyle have reached a binding transaction agreement on the coatings business to create a leading standalone company. Globally, BASF will reinvest in the coatings business, holding a 40% equity stake in the new global coating standalone company under Carlyle.

3. Capacity Expansion:

   • The company is expanding its Cellesto (microcellular polyurethane) production capacity, with a new facility expected to be commissioned in the second half of 2026.
   • BASF India is also expanding its engineering plastics compounding extrusion line, increasing capacity by 80%.

4. Sustainability Initiatives: The company has signed a hybrid solar and wind power captive agreement with Clean Max, which will take the energy consumption at its two Gujarat sites (Dahej and Panoli) to above 80% green energy.

Market Outlook

Alexander Gerding, Managing Director of BASF India, commented on the market conditions: "The overcapacities that have been put in China are clearly visible... Even going into 2026, unless there's something massive changing there, I think that will continue to be a difficult element on the upstream chemicals pricing situation in the industry in India."

Despite these challenges, the company remains cautiously optimistic about its long-term prospects in India, citing the country's strong volume growth momentum driven by domestic consumption and rising disposable income.

BASF India continues to focus on operational efficiencies, cost management, and working capital optimization to navigate the current market conditions while positioning itself for future growth opportunities in the Indian market.