Arihant Foundations & Housing Limited has entered into a "Framework Agreement" with Prestige Estates Projects Limited . Kindly take the above on record and oblige.
ARIHANT · price
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Arihant Foundations & Housing has signed a Framework Agreement with Prestige Estates Projects Limited to jointly develop real estate projects in the Chennai region. The partnership will cover residential, office, retail, and hospitality developments, with both companies bringing their expertise, brand, and market knowledge to the collaboration. There is no share exchange ratio involved, and consideration will be paid as and when investment is made in specific land parcels or projects. Prestige brings significant scale, with 38 years of experience, 302 completed projects spanning over 193 million sq ft, and a presence across 13 Indian cities. The deal is not a related-party transaction.
This partnership gives Arihant access to Prestige's large-scale development expertise and brand, which could boost its project pipeline and execution capabilities in Chennai. For shareholders, the JV could translate into higher future revenues and stronger market positioning, though specific financial terms are yet to be disclosed and will depend on individual project-level decisions.