Key Entities and Dates
- Prestige Estates Projects Limited incorporated two wholly-owned subsidiaries on September 9, 2026
- Disclosure dated September 10, 2026, signed by Venkatarathnaia H Setty Jeelakunte Manoj Krishna
- Company Secretary and Compliance Officer: Manoj Krishna J V
Details of Southgrove Homes LLP
- LLPIN: ADC-0701
- Incorporated on September 9, 2026
- Total contribution in LLP by both partners: ₹1,00,000
- Contribution by Prestige Estates and its subsidiary: ₹1,00,000
- Business purpose: Real estate development
- Partnership interest acquired: 100% (directly and indirectly)
- Consideration: ₹1,00,000 for 100% partnership interest
- Not yet commenced business operations
- No historical turnover
- Incorporated under Limited Liability Partnership Act, 2008
Details of Parkgrove Realty LLP
- LLPIN: ADC-0700
- Incorporated on September 9, 2026
- Total contribution in LLP by both partners: ₹1,00,000
- Contribution by Prestige Estates and its subsidiary: ₹1,00,000
- Business purpose: Real estate development
- Partnership interest acquired: 100% (directly and indirectly)
- Consideration: ₹1,00,000 for 100% partnership interest
- Not yet commenced business operations
- No historical turnover
- Incorporated under Limited Liability Partnership Act, 2008
Regulatory and Transaction Details
- Both subsidiaries constitute related party transactions as wholly-owned subsidiaries
- Promoter/Promoter Group/Group Companies have no interest in the transactions
- No governmental or regulatory approvals required for the acquisitions
- No indicative time period for completion specified (not applicable)
- Transactions conducted at arm's length
Financial Impact
- Total investment: ₹2,00,000 across both subsidiaries (₹1,00,000 each)
- No immediate financial impact disclosed as entities have not commenced operations
#Tags: #PrestigeEstates #SubsidiaryFormation #SEBIRegulation30 #RealEstate #CorporateDisclosure