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Prestige Estates rises on inking agreement for acquiring 80% stake in Sterling Urban Infraprojects

09 Mar 2018 Evaluate

Prestige Estate Projects is currently trading at Rs. 304.55, up by 4.80 points or 1.60% from its previous closing of Rs. 299.75 on the BSE.

The scrip opened at Rs. 300.15 and has touched a high and low of Rs. 306.00 and Rs. 300.15 respectively. So far 2623 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 356.10 on 16-Jan-2018 and a 52 week low of Rs. 148.00 on 14-Mar-2017.

Last one week high and low of the scrip stood at Rs. 331.65 and Rs. 292.10 respectively. The current market cap of the company is Rs. 11420.63 crore.

The promoters holding in the company stood at 70.00%, while Institutions and Non-Institutions held 28.82% and 1.18% respectively.


Prestige Estate has entered into binding agreement for acquisition of 80% stake held by Investors and its affiliates in Sterling Urban Infraprojects. The acquisition is proposed to be completed by March 31, 2018.

Sterling Urban Infraprojects owns land parcels of around 59 acres in Bangalore. The company intends to develop state of the art commercial office space with over 6 million sq. ft. of developable area. The transaction is in the ordinary course of business and is being done at arm's length on a cash consideration of Rs 336 crore.

Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.


Prestige EstatesProj Share Price

1373.45 15.95 (1.17%)
20-Apr-2026 16:59 View Price Chart
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