Prestige Estates Projects Limited — Others, 05-08-2025: Monitoring Agency Report

Prestige Estates Projects has released its Qualified Institutional Placement (QIP) proceeds utilization report. The monitoring agency, ICRA Limited, confirmed no deviation in how the INR 5000 Crore raised was used compared to the original objectives. Net proceeds were INR 4899.17 Crore. Funds were deployed for debt repayment (INR 1500 Cr), land acquisition (INR 1000 Cr), and investments in subsidiaries/Joint Ventures (INR 796.75 Cr). The General Corporate Purpose allocation (INR 1149.17 Cr) was fully utilized. INR 453.25 Crore of QIP proceeds remain unutilized, primarily held in fixed deposits. This update confirms diligent capital deployment for strategic growth.