Prestige Estates Projects reduced its partnership interest in its wholly owned subsidiary, Stellar Envision LLP, to 50% on June 19, 2026. The reconstitution follows the execution of a Limited Liability Partnership Deed to admit a new partner into the entity. The LLP intends to undertake real estate projects in Bangalore following this change in ownership structure.

The new partner admitted to the LLP is engaged in the real estate business and does not belong to the promoter, promoter group, or group companies of Prestige Estates Projects. The company confirmed that the transaction does not fall within the ambit of related party transactions and was conducted at arm’s length.

Financial details of the subsidiary as of March 31, 2026, indicate a net worth of Rs. 0.1 million, while other income was nil. A consideration of Rs. 0.05 million was received regarding the disposal. The agreement for the sale was entered into on June 19, 2026, with the completion of the disposal also occurring on the same date.

Key Financial Details of Stellar Envision LLP

The disclosure was made to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Irfan Razack, Chairman and Managing Director, signed the filing on behalf of the company.

Prestige Estates Projects has launched Phase 2 of its plotted development project, Prestige Gardenia Estates, in Devanahalli, Bengaluru. The project covers approximately 21 acres and offers 195 plots, with a total development area of just under 0.5 million sqft. The launch targets a revenue potential of ₹400 crores, capitalizing on the strong demand in the North Bengaluru corridor.

Project Details and Amenities

The development is strategically located near Kempegowda International Airport, NH 44, and the Satellite Town Ring Road. It features infrastructure-ready land with wide, tree-lined corridors, modern utilities, and curated green zones. The project includes a range of amenities such as a state-of-the-art clubhouse, jogging and walking tracks, multipurpose and pickleball courts, an outdoor gym, and a yoga lawn. Additional facilities include reflexology paths, flower and Zen gardens, a children's play area with a tree house, a skating rink, a climbing wall, sunken seating pockets, and a dedicated pet park.

Key Parameters

Market Demand and Group Performance

Prestige Gardenia Estates has been well-received, with Phase 1 selling out at launch, underscoring the demand for sustainable living in North Bengaluru. The Prestige Group, a diversified real estate developer, has delivered 316 projects spanning 212 million sqft as of March 2026. The company currently has a pipeline of 135 projects across 227 million sqft.