Prestige Estates Projects Merger & Restructuring Worth ₹0.01 Cr
Prestige Estates incorporated two LLPs for 100% stake at ₹0.01 Crore total cash consideration. Both entities are for real estate development.
- Value
- ₹0.01 Cr
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Prestige Estates incorporated two LLPs for 100% stake at ₹0.01 Crore total cash consideration. Both entities are for real estate development.
Prestige Estates incorporated two wholly-owned real-estate subsidiaries, Southgrove Homes LLP and Parkgrove Realty LLP, on 9 Sep 2026. Total capital contribution across both entities is ₹0.02 Crore.
Prestige Estates will receive an investment of ₹3,000 Crore from CPPIB into its subsidiary, Prestige Hospitality Ventures, for a 28% stake.
Prestige Estates will acquire a 50% stake in Advent Hotels for up to Rs.504 Crore. The deal targets a Mumbai commercial project and is to close within 45 days.
Prestige Group entered a joint venture with ABIL Group to develop a 6-acre land parcel in Versova, Mumbai, via Aaramnagar Realty LLP. The project has a development potential of 1.7 million square feet and an estimated Gross Development Value of over ₹9,000 Crore. This marks the company's strategic expansion into Mumbai's premium residential market.