Mergers #prestige estates#acquisition
Prestige Estates acquires 50% stake in Rs 4,500 crore Mumbai commercial project
Prestige Estates Projects Ltd has acquired a 50% stake in Advent Convention and Hotels International Ltd for Rs 504 crore to co-develop a Rs 4,500 crore commercial project in Mumbai. The project in Andheri East will have 1.50 million sq ft of leasable area. The company also reported a two-fold increase in net profit to Rs 1,195.5 crore for FY2025-26.
Jul 8, 2026 1 source