Prestige Estates Projects Ltd has acquired a 50% stake in Advent Convention and Hotels International Ltd (ACHIL) for Rs 504 crore as part of its expansion plan, according to a regulatory filing dated July 3, 2026. The Bengaluru-based realty firm will co-develop a commercial project in Mumbai's Andheri East with a gross development value of Rs 4,500 crore.
Deal Structure
Under the investment agreement, Prestige will infuse up to Rs 504 crore to acquire the 50% stake in ACHIL, the entity undertaking the project development, the filing stated. ACHIL and Prestige will jointly develop the commercial project on a land parcel of 21,978.22 square metres.
Project Details
The project entails a total leasable area of 1.50 million sq ft and a gross development value of Rs 4,500 crore, according to the filing. Located in Andheri East, Mumbai, the development adds to Prestige's commercial portfolio in the country's financial capital.
| Project Parameter | Detail |
|---|---|
| Stake acquired | 50% in ACHIL |
| Consideration | Rs 504 crore |
| Land area | 21,978.22 sq m |
| Leasable area | 1.50 million sq ft |
| Gross development value | Rs 4,500 crore |
| Location | Andheri East, Mumbai |
Financial Performance
Prestige Estates reported a two-fold jump in net profit to Rs 1,195.5 crore for the last fiscal year (FY2025-26) from Rs 467.5 crore in FY2024-25, the company said. Total income rose to Rs 13,195.5 crore during FY2025-26 against Rs 7,735.5 crore in the preceding year.
| Metric | FY2024-25 | FY2025-26 |
|---|---|---|
| Net profit (Rs crore) | 467.5 | 1,195.5 |
| Total income (Rs crore) | 7,735.5 | 13,195.5 |
Company Background and Pipeline
Prestige Estates, one of the leading real estate developers in the country, builds housing, commercial (office complexes and shopping malls), and hospitality projects. Since its inception, the group has delivered 313 projects spanning 206 million sq ft and has a pipeline of 128 projects across 195 million sq ft, according to the filing. This acquisition aligns with its strategy to strengthen its commercial presence in key metropolitan markets.
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