Prestige Estates Projects Limited has informed the Exchange about Acquisition of partnership interest in Aaramnagar Realty LLP
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Prestige Estates Projects Limited has completed the acquisition of 50% partnership interest in Aaramnagar Realty LLP for a cash consideration of Rs. 180 crores. The deal was completed on April 9, 2026. Aaramnagar Realty LLP was formed in 2018 and operates in real estate, construction and development. The acquisition is intended to develop a real estate project in Versova, Mumbai. The target entity had nil turnover for the year ended March 31, 2025. The transaction is not a related party transaction and the promoter/promoter group of the company has no interest in this deal.
This acquisition strengthens Prestige Estates' presence in the Mumbai real estate market through a new development project. The Rs. 180 crore investment is a significant capital deployment into a new entity with nil current revenue, indicating management's confidence in the Versova project.