Prestige Estates consummated the first tranche of its strategic hospitality partnership with CPPIB. This transaction includes a subsidiary stake sale and share subscription for ₹1,500 Crore.
Value
₹1,500 Cr
From
CPP Investment Board Private Holdings (4) Inc. (CPPIB)
Prestige Estates will divest a ~27% stake in its subsidiary, Prestige Hospitality Ventures Ltd, to CPPIB for ₹3,000 Crore, forming a strategic partnership.
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 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.
Value
₹504.0 Cr
Execution
To be completed within 45 days from the date of the agreement
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.
