Prestige Estates Issues ₹450 Crore Corporate Guarantee

Key Transaction Details

The Company, Prestige Estates Projects Limited, is issuing a corporate guarantee to secure a loan being availed by its subsidiary, Prestige Projects Private Limited.

Guarantee Specifics

• Lender/Trustee: Bajaj Housing Finance Limited
• Amount of Facility: Up to ₹450 Crores
• Beneficiary: Prestige Projects Private Limited (subsidiary)

Transaction Characteristics

• The promoter/promoter group has no interest in this transaction.
• The corporate guarantee has been provided by the Company on an arm's length basis.
• The transaction is in compliance with the applicable provisions of the Companies Act, 2013 and the SEBI Listing Regulations.

Financial Impact Assessment

The corporate guarantee provided is classified as a contingent liability for the Company. The disclosure explicitly states that at this point, there is no impact of this guarantee on the Company. The guarantee has been provided on behalf of the subsidiary which is part of the consolidated group.