February 12, 2025

Prestige Estates Acquires 39% Stake In Prestige Falcon

1 min read

Prestige Estates has executed an agreement to acquire a 39% equity stake in Prestige Falcon Mumbai Realty Private Limited, a subsidiary Company. With this acquisition, the Company will hold a 90% stake in Prestige Falcon Mumbai Realty Private Limited.

Prestige Hospitality Ventures Limited, a wholly owned subsidiary of the Company has executed an agreement for acquiring a 42.55% equity stake in Prestige Leisure Resorts Private Limited, a subsidiary Company. With this acquisition, Prestige Leisure Resorts Private Limited will become a wholly owned Step-Down subsidiary of the Company.

Prestige Falcon Mumbai Realty Private Limited is a subsidiary of the Company and was incorporated in the year 2022. It is in the business of Real Estate Construction and ancillary activities. Turnover for the year ended March 31, 2024 is Rs. 29.768 million

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The Company holds a 51% stake in the target entity and post this acquisition, it will have a 90% stake in Prestige Falcon Mumbai Realty Private Limited

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