Prestige Estates Projects has executed agreement for acquiring 25% equity stake in K2K Infrastructure India, subsidiary Company. The Company is holding 75% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 7.50 crore. 

The company entered into agreement for acquiring 27% equity stake in Prestige Garden Estates, subsidiary Company.  The Company is holding 73% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 214.38 crore. Further, the company has also entered into agreement for acquiring 40% equity stake in Apex Realty Management, subsidiary Company. The Company is holding 60% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 0.16 crore. 

Besides, the company signed agreement for acquiring 49% equity stake in Prestige Acres, subsidiary Company. The Company is holding 51% stake in the target entity and post-acquisition, it will become a wholly owned subsidiary of the Company. The consideration of said acquisition is Rs 331.00 crore and lastly, the company signed agreement for acquiring 16% equity stake in Prestige Projects, subsidiary Company. The Company is holding 60% stake in the target entity and post-acquisition, the Company stake will increase to 76%.

The said acquisitions are expected to be completed by October 31, 2024

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.