Prestige EstatesProj

Prestige Group added a 17.14-acre land parcel in Sector 109, Gurgaon, to its residential development portfolio. The project was planned with approximately 2.8 million sq ft of saleable area and an estimated gross development value of ₹5,600 crore. Prestige Group's residential presales totalled ₹3,002.45 crore in FY26, up 76% year on year. The group had 137 projects spanning 229 million sq ft in its pipeline as of June 2026.

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Prestige Estates Projects executed a binding framework agreement with CPP Investment Board Private Holdings (4) Inc. for an investment of up to ₹3,000 crore in its wholly owned subsidiary, Prestige Hospitality Ventures Ltd (PHVL). The investment was to be made in multiple tranches through a combination of primary and secondary transactions and would represent up to 28% of PHVL's shareholding. Prestige and its nominees held all PHVL shares before the proposed transaction, while completion remained subject to due diligence, definitive documents and regulatory and lender approvals. CPPIB is a Canadian corporation that manages the Canada Pension Plan Fund for more than 22 million contributors and beneficiaries. PHVL was the group's hospitality IPO vehicle, with a draft red herring prospectus filed in April 2025. Prestige reported consolidated revenue of ₹13,195.5 crore and PHVL standalone revenue of ₹345.9 crore in the last financial year.

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** Prestige Estates Projects PREG.NS falls 4.8% to 1,593.1 rupees, its sharpest drop since mid-May

** Realty developer's Q1 consol net profit falls 19.4% Y/Y as higher land and contract costs lifted expenses; rev up 15.9%

** Nomura says lower-margin projects booked in Q1 and marketing expenses weighed on EBITDA

** Adds, net debt rose 9% sequentially; higher business development and annuity investments led to negative free cash flow

** Investors await management commentary in post-earnings conference call scheduled for 3:30 p.m. IST

** Stock rated "buy" on avg; median PT 1,803 rupees - data compiled by LSEG

** Stock up 1.7% YTD

(Reporting by Aleef Jahan in Bengaluru)

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July 29 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS Q1 CONSOL NET PROFIT 2.36 BILLION RUPEES

• PRESTIGE ESTATES PROJECTS Q1 CONSOL REVENUE FROM OPERATIONS 26.75 BILLION RUPEES

Source text: ID:nBSEfCFz3

Further company coverage: PREG.NS

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Prestige Estates Projects reported a strong start to FY27, with residential pre-sales of ₹65.79 billion (₹6,579.3 crore) and sales volume of 6.04 million square feet across 3,337 units during the June quarter. Hyderabad, driven by the response to the newly launched Prestige Golden Grove, contributed 49 per cent of sales, followed by Bengaluru, Mumbai, NCR and other markets. Collections remained robust at ₹48.02 billion. The company launched four projects during the quarter with a combined developable area of 20.16 million square feet and an estimated gross development value of ₹120,000 million for the residential component alone. The launches included Prestige Golden Grove in Hyderabad, Prestige Gardenia Estates Phase II in Bengaluru, Prestige Forest Hills Phase II in Mumbai and Prestige Century Landmark, a commercial project in Bengaluru. Chairman Irfan Razack said the company was upbeat about a festive-season launch pipeline across Mumbai, NCR, Bengaluru and Chennai.

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July 16 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - Q1 FY27 RESIDENTIAL PRE-SALES AT 65.79 BILLION RUPEES

• PRESTIGE ESTATES - Q1 FY27 COLLECTIONS AT 48.02 BILLION RUPEES

Source text: ID:nBSE74HLmN

Further company coverage: PREG.NS

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** Shares of India's Advent Hotels International ADVO.NS rise 8.9% to 153 rupees, set for highest intraday rise since April 2026

** Co said on Friday that Prestige Estates Projects PREG.NS would acquire 50% equity share in Advent Convention and Hotels International, a unit of ADVO

** Prestige to invest 5.04 bln rupees ($52.91 million) for transaction

** More than 375,000 shares traded by 9:30 a.m. IST vs 30-day avg of 206,000 shares

** Stock down 31.6% YTD

($1 = 95.2500 Indian rupees)

(Reporting by Abhirami G in Bengaluru)

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Prestige Estates Projects has entered into an investment agreement to acquire a 50% stake in Advent Convention and Hotels International Limited, a company incorporated in 2024 that holds land for a commercial project in Mumbai. The project site, located at Sahar, Andheri East, measures 21,978.22 square metres and allows a total leasable area of approximately 1.5 million square feet. Prestige estimates the gross development value at around ₹4,500 crore and will infuse up to ₹504 crore in cash for the acquisition. The company had first intimated the board’s interest in this venture on 29 May 2025, and the deal is expected to be completed within 45 days unless the parties mutually agree otherwise. No promoter or promoter group interest exists in the transaction, and the target entity reported nil turnover for the past three financial years.

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July 3 (Reuters) - Advent Hotels International Ltd ADVO.NS:

• EXECUTES INVESTMENT AGREEMENT WITH PRESTIGE ESTATES ON JULY 3, 2026

• PRESTIGE ESTATES TO BUY 50% STAKE IN ACHIL FOR 5.04 BILLION RUPEES

Source text: ID:nBSE3jz3q2

Further company coverage: ADVO.NS

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Prestige Estates Projects has launched Phase 2 of Prestige Forest Hills at The Prestige City in Mulund, Mumbai. The phase comprises 500 premium 3 and 4-bedroom apartments spanning a total developable area of approximately 1.7 million square feet. The company estimated a Gross Development Value of around ₹2,200 crore for the project. The development is part of the 6.5-acre Forest Hills component within the 32-acre integrated township The Prestige City, Mulund. Phase 1, consisting of Towers A and B, was launched in August 2024. The township also includes proposed retail, commercial, educational, and social infrastructure.

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June 11 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - PRESTIGE GROUP AND BACL ANNOUNCE LANDMARK INTEGRATED DESTINATION IN BENGALURU AIRPORT CITY

Source text: ID:nBSE2bt6sS

Further company coverage: PREG.NS

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** India's Prestige Estates Projects PREG.NS rises 2.3% to nearly a two-month high of 1,405 rupees

** Co's Golden Groves property in Hyderabad clocks 25 billion Indian rupees ($267.28 million) in early sales

** Real-estate developer launched the project just about two weeks ago, and robust early traction underscores demand for luxury residential real-estate in India

** RBI's rate cuts and the Indian government's tax cuts in October have helped boost consumption

** Stock trades at a premium compared to peers, with forward 12-month price-to-earnings at 33.14, vs industry average at 21.52 - LSEG data

** Out of 20 analysts tracking stock, 18 rate "buy" or higher, while two rate "hold" or lower - LSEG-compiled data

** Nifty realty index .NIFTYREAL nears two-month highs; down 9% year-to-date

** YTD, Prestige down 11.9%

($1 = 93.5363 Indian rupees)

(Reporting by Pranav Kashyap)

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April 3 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• LAUNCHES PRESTIGE GOLDEN GROVE IN HYDERABAD

Source text: ID:nBSE4vwT54

Further company coverage: PREG.NS

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April 1 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - SECURES LAND PARCEL IN GURUGRAM WITH 42 BILLION RUPEES GDV POTENTIAL

Source text: ID:nBSE77vPM1

Further company coverage: PREG.NS

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** Shares of Prestige Estates PREG.NS climb 2.4% to 1,535.60 rupees; stock top gainer on 10-member Nifty Realty index .NIFTYREAL, which is up 1.15%

** Real estate developer on Tuesday said its Q3 pre-sales jumped 39% to 41.84 billion rupees ($461.6 million)

** Morgan Stanley sees full-year pre-sales jumping 60%, after April-December pre-sales jump 2.2x

** Analysts rate PREG "buy" on average, same as other top realty firms - data compiled by LSEG

** Stock declined ~6% in 2025 vs 16.6% slump in realty stocks

($1 = 90.6420 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 8 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• GROUP TO PURCHASE 16.381-ACRE LAND IN CHENNAI

Source text: ID:nBSEb3ccwm

Further company coverage: PREG.NS

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Dec 10 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - UNIT ACQUIRES PARTNERSHIP INTEREST IN BHARATNAGAR BUILDCON LLP

• PRESTIGE ESTATES - CO NOW INDIRECTLY HOLDS 66.93% PARTNERSHIP INTEREST IN BHARATNAGAR BUILDCON

Source text: ID:nBSEbcBNfm

Further company coverage: PREG.NS

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Oct 14 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES - LAUNCHES PRESTIGE GARDEN TRAILS IN DAHISAR-MIRA ROAD

• PRESTIGE ESTATES - LAUNCHES PRESTIGE GARDEN TRAILS WITH GDV OF 20 BILLION RUPEES

Source text: ID:nNSE37BfQ0

Further company coverage: PREG.NS

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** Shares of Prestige Estates Projects PREG.NS rise 1.7% to 1,652 rupees

** Nomura initiates coverage with 'buy' rating, 1,900 rupees PT - matching analysts' median target, per LSEG data

** Brokerage says PREG's pan-India growth strategy outpaces peers in key Mumbai, Delhi NCR markets; expects significant scale-up from mid-income township, luxury developments

** Estimates FY26 pre-sales at nearly 290 bln rupees ($3.30 bln) and beat forecast by 10% if launch targets met

** Projects annuity, hotel EBITDA to multiply 4-5x over next 4-5 years on strong execution

** 18 analysts covering PREG have a "buy" rating on avg - data compiled by LSEG

** YTD, PREG down 2.5% vs Nifty realty's .NIFTYREAL fall of 13%

($1 = 87.7587 Indian rupees)

(Reporting by Urvi Dugar)

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July 7 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - PRESTIGE FALCON MALLS BUYS 49% IN NOTTING HILL INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - BUYS 48.99% IN AAA INVESTMENTS

• PRESTIGE ESTATES - ACQUIRED 48.99% PARTNERSHIP INTEREST IN PRESTIGE AAA INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - PAYS 256 MILLION RUPEES TO RETIRING PARTNERS FOR AAA INVESTMENTS

• PRESTIGE ESTATES PROJECTS LTD - PRESTIGE NOTTING HILL DEAL FOR 3 BILLION RUPEES

Source text: ID:nBSEz7lH8

Further company coverage: PREG.NS

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June 30 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - LAUNCHES PRESTIGE PALLAVARAM GARDENS IN CHENNAI

• PRESTIGE ESTATES PROJECTS LTD - PROJECT HAS GROSS DEVELOPMENT VALUE OF 33.50 BILLION RUPEES

Source text: ID:nBSE4QPpb4

Further company coverage: PREG.NS

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June 27 (Reuters) - Arihant Foundations & Housing Ltd ARFL.BO:

• ARIHANT FOUNDATIONS & HOUSING LTD - PRESTIGE AND ARIHANT GROUP TO JOINTLY BUY LAND IN CHENNAI

• ARIHANT FOUNDATIONS & HOUSING LTD - DEVELOPMENT POTENTIAL OF 750,000 SQ FT WITH GDV OVER 16 BILLION RUPEES

Source text: ID:nBSE96kX0K

Further company coverage: ARFL.BO

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June 6 (Reuters) - Nukleus Office Solutions Ltd NUKL.BO:

• EXECUTED A LETTER OF INTENT WITH PRESTIGE ESTATES PROJECTS

• LETTER OF INTENT FOR LEASING NEW CO-WORKING CENTRE IN BENGALURU

Source text: ID:nBSE7byMZR

Further company coverage: NUKL.BO

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May 27 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• PRESTIGE ESTATES PROJECTS LTD - LAUNCHES PRESTIGE GARDENIA ESTATES IN BANGALORE

• PRESTIGE ESTATES PROJECTS LTD - PROJECT COMPRISES 516 PLOTS WITH REVENUE POTENTIAL OF 8 BILLION RUPEES

Source text: ID:nBSE6r0Hss

Further company coverage: PREG.NS

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** Real estate developer Prestige Estates' PREG.NS launch of key residential project in Indirapuram, Ghaziabad, to drive FY26 pre-sales and allay concerns over its FY25 pre-sales forecast miss, CLSA says

** CLSA reiterates "outperform", PT 1,315.8 rupees; PREG last up 3.5%

** CLSA says project, with over 100 billion rupees ($1.17 billion) sales potential, will likely be launched in coming days since co has secured regulatory approval

** Believes co can sell 60%-70% of project, marking its entry into National Capital Region market, in FY26

** Project will garner strong response given its location, scale, and mid-income positioning - CLSA

** Stock down 19.6% YTD

($1 = 85.2050 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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April 24 (Reuters) - Indian real-estate developer Prestige Estates' PREG.NS hospitality business, Prestige Hospitality Ventures filed for a 27 billion rupees (about $317 million) initial public offering, according to draft papers released on Thursday.

WHY IT'S IMPORTANT

Prestige Hospitality IPO comes at a time when major Indian companies like Ather Energy ATHR.NS have reduced their IPO size and LG Electronics India LGEL.NS has delayed its listing amid market jitters.

Trade uncertainty sparked by U.S. President Donald Trump's on-again, off-again tariffs has roiled global markets.

Despite this, about 67 companies have raised over $2.32 billion in public listings so far this year in India, according to data compiled by LSEG.

CONTEXT

Prestige Estates is looking to raise between 20 billion rupees to 30 billion rupees through the public float of its hospitality business, as per local media reports from June 2024.

Sustained travel demand in the country and successful listings of firms like Samhi Hotels SAMH.NS and Juniper Hotels JUNI.NS in 2024 have bolstered investor confidence in the sector.

BY THE NUMBERS

Under the IPO, Prestige Hospitality will offer new shares worth 17 billion rupees, while the parent company, Prestige Estates, will offer shares worth 10 billion rupees.

J.M. Financial, CLSA, J.P. Morgan and Kotak Mahindra Capital are the IPO's lead book-running managers.

($1 = 85.3030 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Tasim Zahid)

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March 28 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• APPROVES INVESTMENT IN PRESTIGE HOSPITALITY VENTURES

• INVESTMENT UP TO 16.25 BILLION RUPEES IN WHOLLY OWNED SUBSIDIARY

Source text: ID:nNSE5X3W2K

Further company coverage: PREG.NS

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March 3 (Reuters) - Prestige Estates Projects Ltd PREG.NS:

• INCOME TAX DEPARTMENT CONCLUDES SEARCH AT PRESTIGE ESTATES OFFICES

• FULLY COOPERATED WITH INCOME TAX DEPARTMENT

Source text: ID:nBSE4N6lY9

Further company coverage: PREG.NS

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** Shares of Prestige Estates Projects PREG.NS fall as much as 3.7% to 1,148.5 rupees, lowest since March 28

** The real estate developer said on Tuesday that the Income Tax department is conducting search at co's registered office and other branch offices from Feb. 25

** Co did not provide further updates regarding search

** Seventeen analysts covering the stock on average have a "buy" rating; median PT is 1,805 rupees - LSEG data

** Stock has shed ~30% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

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Recasts; adds comments, stock move and backgrounds

By Nikunj Ohri, Shivangi Acharya and Sarita Chaganti Singh

NEW DELHI, Feb 1 (Reuters) - India slashed personal tax rates in its annual budget on Saturday, as the world's fifth largest economy focuses on boosting domestic demand amid uncertainty over the global economic outlook due to potential new tariff barriers.

The world's most populous country is expected to post its slowest growth in four years next year amid frail urban demand and weak private investment, while stubbornly high food inflation has dented disposable incomes.

The government said people earning up to 1.28 million Indian rupees ($14,800) per year will not have to pay any taxes, raising its threshold from 700,000 rupees. It also lowered tax rates for people earning above the new threshold.

"The new structure will reduce taxes on middle class and leave more money in their hands, boosting household consumption, savings and investment," Finance Minister Nirmala Sitharaman said in parliament.

The move will result in an annual 1 trillion Indian rupee ($11.6 billion) hit to Treasury revenues.

Measures to assist the poor, youth, farmers and women were also included in the budget for 2025-26, Sitharaman said.

Increasing living costs have weighed on the popularity of Prime Minister Narendra Modi, with one survey showing more Indians are becoming less hopeful about their quality of life.

Per capital income is around $2,700 for India's population of 1.4 billion, with about one-third considered middle class.

The tax cut is "likely to spur consumer demand and savings by the middle class that has faced challenges from elevated inflation and lower income growth," Sakshi Gupta, economist at HDFC Bank.

The move led to a rally in consumer stocks such as Maruti Suzuki MRTI.NS, Godrej Consumer Products GOCP.NS and Prestige Estates PREG.NS, which jumped by 4% to 8%.

To balance the revenue lost, the government has budgeted for a modest increase in capital spending this year, which will rise to 11.21 trillion rupees in 2025-26 compared to a lowered 10.18 trillion in the current year.

The modest infrastructure spending increase disappointed investors in the sector and stocks of firms including Larsen & Toubro LART.NS, NBCC NBCC.NS, IRB Infra IRBI.NS and KEC International < KECL.NS> were down between 1% and 6%.

The government expects to improve its finances, targeting a fiscal deficit of 4.4% of GDP in 2025-26, down from a revised 4.8% of GDP in the current year.

It will borrow 14.82 trillion Indian rupees via the bond markets to fund this year's fiscal deficit.

The government, however, refrained from pre-empting the impact of potential tariffs from U.S. President Donald Trump on India and focussed on lowering some input costs for industries that have been raising output such as electronics and

renewables.

FOCUS ON FARM, MANUFACTURING AND FINANCIAL SECTOR

India has faced a bout of high food inflation over the past year due to weather changes impacting output.

To boost productivity across the farm sector, the government will launch a national mission to push high-yielding crops, with a special focus on pulses and cotton production.

To help farmers, the limit for subsidised credit has been raised to 500,000 Indian rupees ($5,778) from 300,000 rupees earlier.

The government will also launch missions to push manufacturing and exports, Sitharaman said, without going into details.

India has long aimed to boost the share of manufacturing and exports in its economy but has had little success. The share of manufacturing in the economy has remained close to 17%, short of its long-standing goal of 25%.

To deepen the penetration of insurance in the economy, the foreign direct investment limit on insurance was raised to 100% from 74% currently.

($1 = 86.5360 Indian rupees)

(Reporting by Shivangi Acharya and Nikunj Ohri in New Delhi; Writing by Ira Dugal and Aftab Ahmed; Editing by Lincoln Feast)

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