Prestige Estates Projects has issued a corporate guarantee for a loan of up to INR 370 Crores availed by its wholly owned subsidiary, Prestige Alta Vista Properties LLP, from Axis Bank Limited. The guarantee is a contingent liability for the company and has been provided on behalf of the subsidiary, which is part of the consolidated group. At this point, there is no impact of this guarantee on the company.

The corporate guarantee has been provided on an arm's length basis, in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations. The promoter or promoter group do not have any interest in this transaction.

Details of the Guarantee

The following table outlines the key details of the loan facility secured by the corporate guarantee:

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company submitted the filing to the National Stock Exchange of India Limited and BSE Limited on July 16, 2026.

Prestige Estates Projects Limited has agreed to acquire a 50% stake in Advent Convention and Hotels International Limited for Rs 504 crore to develop a commercial project in Mumbai. The transaction, finalized through an investment agreement on July 3, 2026, targets a project with a Gross Development Value of approximately Rs 4,500 crore, marking a significant expansion in the Mumbai real estate market.

Acquisition Details

The company and its wholly owned subsidiary will infuse up to Rs 504 crore in cash consideration to secure the 50% shareholding. Advent Convention and Hotels International Limited, incorporated in 2024, is a public limited company engaged in real estate development. The target entity reported nil turnover for the financial years 2024-25 and 2025-26.

Project Overview

The primary objective of the acquisition is to develop a commercial project on land measuring 21,978.22 sq. mts. located at Sahar, Village - Andheri, Taluka - Andheri East, District - Mumbai Suburban District. The project is expected to feature a total leasable area of approximately 1.50 million sq. ft.

Transaction Timeline and Approvals

The acquisition is scheduled to be completed within 45 days from the date of the agreement, unless mutually extended by the parties involved. The filing confirms that the transaction does not fall within related party transactions, and the promoter or promoter group of Prestige Estates Projects holds no interest in the deal. No specific governmental or regulatory approvals were listed as required for the transaction.