Arihant Foundations & Housing Limited has filed a regulatory disclosure under Regulation 30 regarding its joint acquisition of a prime land parcel in Chennai with Prestige Group. The formal press release, dated March 26, 2026, confirms the acquisition of a 16.331 acre land parcel in Padi, Chennai, with an estimated gross development value of ₹5,000 crores.

Regulatory Filing Details

The disclosure was submitted to BSE Limited under scrip code 531381, with CEO Arun Rajan signing the regulatory communication. The filing includes the official press release detailing the joint venture structure and project specifications.

Joint Venture Structure

The land acquisition has been executed through Canopy Living LLP, a joint venture between Prestige Estates Projects Limited and Arihant Foundations and Housing Ltd. This partnership combines Prestige Group's pan-India expertise with Arihant Group's deep local market knowledge in Chennai.

Strategic Location and Development Plans

The acquired land parcel is strategically positioned in Padi, close to Anna Nagar, one of Chennai's most sought-after residential micro-markets. The site benefits from well-established social infrastructure, strong connectivity networks, and proximity to Chennai's key commercial and social hubs. The development is planned as a premium residential project catering to Chennai's evolving residential preferences.

Management Commentary

Mr. Irfan Razack, Chairman and Managing Director of Prestige Group, emphasized the company's Chennai market focus: "Chennai continues to be a key market for us, and we see strong long-term potential driven by its stable demand, improving infrastructure, and evolving residential preferences. We remain focused on expanding our presence in the city through well-located, high-quality developments that cater to the aspirations of homebuyers, while maintaining our emphasis on execution and timely delivery."

Mr. Kamal Lunawath, Managing Director of Arihant Group, highlighted the project's positioning: "Chennai's residential market has demonstrated consistent growth, supported by end-user demand and a well-established ecosystem. This project, given its scale and strategic location near Anna Nagar, is well-positioned to tap into this demand. We see strong potential for a premium development that aligns with the expectations of today's homebuyers in the city."

Company Track Records

Prestige Group brings nearly four decades of real estate development experience across multiple segments. As of December 2025, the Group has delivered 313 projects spanning 206 million square feet and maintains a pipeline of 128 projects across 195 million square feet.

Arihant Foundations and Housing Limited contributes over four decades of Chennai-focused experience with a delivery track record exceeding 25 million square feet. The company has established a reputation for high-quality residential and commercial projects emphasizing transparency, customer-centricity, and timely execution.

Prestige Estates Projects Limited has announced the issuance of a corporate guarantee to secure a term loan facility being availed by Canopy Living LLP, its joint venture partner. The disclosure was made on March 9, 2026, in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Corporate Guarantee Details

The company has provided a corporate guarantee for a substantial term loan facility arranged through Aditya Birla Capital Limited. The guarantee structure demonstrates the company's commitment to supporting its joint venture operations.

Regulatory Compliance and Transaction Terms

The corporate guarantee has been structured in full compliance with applicable regulatory frameworks. The company confirmed that the promoter and promoter group have no interest in this transaction, ensuring transparency in the arrangement.

Key compliance aspects include:

• Transaction conducted on arm's length basis
• Compliance with Companies Act, 2013 provisions
• Adherence to SEBI Listing Regulations requirements
• Proper disclosure under Regulation 30 framework

Financial Impact Assessment

The corporate guarantee represents a contingent liability for Prestige Estates Projects Limited. As disclosed by the company, this guarantee has been provided on behalf of the joint venture, which forms part of the consolidated group structure.

The company has indicated that there is no immediate impact of this guarantee on its operations at this point. The arrangement supports the joint venture's financing requirements while maintaining the company's strategic involvement in the partnership.

Documentation and Disclosure

The disclosure was made through proper channels to both the National Stock Exchange of India Limited and BSE Limited. Company Secretary and Compliance Officer Manoj Krishna J V signed the disclosure documentation, ensuring proper corporate governance protocols were followed.

This transaction reflects the company's ongoing support for its joint venture operations while maintaining strict adherence to regulatory disclosure requirements and corporate governance standards.