Prestige Estates Projects Limited — JV/Acquisition, 30-12-2024: Acquisition

Prestige Estates Projects Limited's wholly-owned subsidiary, Prestige Exora Business Parks Limited, has acquired a 49% equity stake in WSI Falcon Infra Projects Private Limited by subscribing to 96,079 shares for approximately ₹0.96 crore. This acquisition enhances Prestige's presence in the IT/IT-enabled services sector with a focus on developing properties in Chennai.

In a restructuring move, Prestige has retired from its partnership in Prestige Realty Ventures, transferring its 99.99% ownership to Prestige Hospitality Ventures Limited, which will now operate the firm while maintaining the company's economic rights. This transition involves a cash restructuring totaling ₹168.35 crore.

Additionally, Village De Nandi Private Limited is exiting its partnership in Prestige MRG Eco Ventures, allowing Prestige Hospitality Ventures to step in with a 50% stake, facilitating further growth in real estate development, including a new hospitality and villa project in Hassan.