Prestige Estates buys 50% stake in Advent Convention and Hotels International for Rs 504 crore

Prestige Estates has entered an investment agreement to acquire a 50 per cent stake in Advent Convention and Hotels International for up to Rs 504 crore. The acquired entity is developing a 1.50 million sq ft commercial project at Andheri East, Mumbai, with a gross development value of Rs 4,500 crore. The company also reported a two-fold jump in net profit to Rs 1,195.5 crore for FY26, with total income rising to Rs 13,195.5 crore.