Key Transaction Details

An Investment Agreement was executed on 3rd July, 2026 among Advent Hotels International Limited, Advent Convention and Hotels International Limited (ACHIL - a wholly-owned subsidiary), Prestige Estates Projects Limited, and Prestige Falcon Realty Ventures Private Limited.

Under the agreement, Prestige Estates will acquire a 50% equity share capital stake in ACHIL, representing 50% of both economic and voting rights. The aggregate consideration for this acquisition is ₹504 Crores (Rupees Five Hundred and Four Crores Only). The transaction is subject to fulfillment of customary terms and conditions specified in the agreement.

Corporate Structure Impact

Consequent to this transaction, ACHIL ceases to be a wholly-owned subsidiary of Advent Hotels International Limited. The Company will continue to hold the remaining 50% economic and voting interest, making ACHIL a joint venture entity with 50:50 ownership structure.

Background and Context

The disclosure references a previous intimation dated 29th May, 2025 given by Valor Estate Limited (the erstwhile holding company) regarding a Framework Agreement with Prestige Estates. This agreement was for joint commercial development of a strategic land parcel owned by Esteem Properties Private Limited (a wholly-owned subsidiary of Valor Estate).

The land parcel measures 21,978.22 sq. meters and is located at Sahar, Village Andheri, Taluka Andheri East, Mumbai Suburban District ("Project Property"). The development was planned through a designated Special Purpose Vehicle (SPV).

Corporate Restructuring

Pursuant to an Order dated 12th June 2025 passed by the Hon'ble NCLT, Mumbai Bench, a Composite Scheme of Amalgamation and Arrangement dated 17th December, 2024 was approved. Under this scheme:

  • Esteem Properties Private Limited merged with Valor Estate Limited
  • Thereafter, the hotel undertaking comprising the Project Property was demerged into Advent Hotels International Limited
  • As a result, Advent Hotels became the absolute owner of the Project Property

Project Implementation

In alignment with the framework agreement, Advent Hotels subsequently conveyed the Project Property to ACHIL, which was designated as the exclusive SPV for the project.

The current Investment Agreement represents the definitive implementation of the 50:50 joint venture partnership between Advent Hotels International Limited (in place of Valor Estate) and Prestige Estates Projects Limited.