Prestige Estates Projects Limited (PRESTIGE) — Announcement

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📢 Key Event
Prestige Estates to acquire 50% stake in Advent Convention and Hotels International Limited

🔄 What Changed
50% stake acquisition in a newly incorporated real estate development company

🔮 What's Next
To be completed within 45 days from the agreement date

💡 Investor Takeaway
The deal adds a high-value commercial project to Prestige's portfolio with clear development milestones and cash funding.

Prestige Estates announced on July 3, 2026 that it will acquire a 50% stake in Advent Convention and Hotels International Limited to develop a commercial project in Mumbai with approximately 1.5 million sq ft leasable area and a gross development value of around Rs. 4,500 crores, funded by up to Rs. 504 crores of cash consideration.

📄 View Original Announcement (PDF)

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