Prestige Estates Projects Limited has disclosed the approval of a binding framework agreement for a significant investment transaction in its wholly-owned subsidiary, Prestige Hospitality Ventures Limited (PHVL).

Key Transaction Details

  • Approval Date: August 10, 2026 (sub-committee of Board of Directors meeting concluded at 07:00 p.m.)
  • Parties Involved: Prestige Estates Projects Limited, CPP Investment Board Private Holdings (4) Inc. (CPPIB), and Prestige Hospitality Ventures Limited (PHVL)
  • Investment Amount: INR 30,00,00,00,000 (Indian Rupees Three Thousand Crores)
  • Investment Structure: Through multiple tranches
  • Resulting Stake: CPPIB will acquire up to 28% shareholding in PHVL
  • Transaction Type: Combination of primary investment and secondary investment

Current Ownership Structure

PHVL is currently a wholly owned subsidiary of Prestige Estates Projects Limited, with shares held entirely by the Company and its nominees.

Conditions Precedent

The consummation of the Proposed Transaction is subject to:

  • Completion of due diligence
  • Negotiation and execution of definitive documents
  • Receipt of all necessary approvals (regulatory and lender approvals)
  • Completion of conditions precedent detailed in definitive documents

Financial Context

Prestige Estates Projects Limited Consolidated Turnover/Revenue: INR 131,955 million

PHVL Standalone Turnover/Revenue: INR 3,458.96 million (contribution to company revenue)

Counterparty Information

Buyer: CPP Investment Board Private Holdings (4) Inc.

  • Incorporated under laws of Canada
  • Description: Global investment management organization managing Canada Pension Plan Fund
  • Relationship: Not related to promoter/promoter group/group companies of Prestige Estates

Regulatory Classification

  • Related Party Transaction: No
  • Scheme of Arrangement: No
  • Slump Sale: Not applicable

Documentation Reference

Disclosure made in accordance with SEBI circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, with details provided in Annexure I.

Effective Date

The Binding Framework Agreement was executed on August 10, 2026. The completion date for sale/subscription of shares will depend on fulfillment of all conditions precedent.