Monitoring Agency Report for the quarter ended March 31, 2026.
PRESTIGE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Prestige Estates Projects has submitted its quarterly monitoring agency report for the INR 5000 crore QIP issued in August-September 2024. ICRA Limited, the monitoring agency, has confirmed no material deviation in the utilisation of issue proceeds. Of the INR 4899.17 crore net proceeds, INR 4923.07 crore has been deployed (including interest earned), leaving INR 76.93 crore unutilised in the investment in Subsidiaries/JVs category. Issue related expenses increased by INR 1.43 crore to INR 100.83 crore, slightly reducing the General Corporate Purpose allocation. The unutilised funds are deployed in fixed deposits with ICICI Bank and SBI Bank. The investment in Subsidiaries/JVs (INR 1173.07 crore utilised of INR 1250 crore allocated) is expected to be completed by end of FY 2027.
Positive signal for shareholders - the QIP funds are being deployed as intended with no deviations reported. The INR 76.93 crore unutilised amount is safely parked in bank deposits and will be deployed for ongoing projects. Minor increase in issue expenses has marginally reduced the GCP allocation but this is not material.