Prestige Estates Projects has received approval for investment in the equity shares of Prestige Hospitality Ventures (PHVL), the wholly owned subsidiary of the Company, up to an amount not exceeding Rs 1,625.04 crore by way of subscription to rights issue in one or more tranches. Tentative date of completion of the said transaction is March 31, 2025. The Management Sub-Committee of the Board of the Directors of the company at their Meeting held on March 28, 2025, has, inter alia, approved the same.
Prestige Estates Projects is the flagship company of the Prestige Group. 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.
