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The Economic Times

Walmart to set up GCC in Bengaluru, signs lease deal with Prestige

Walmart Global Technology Services India has leased about 1 million sq ft of office space in Bengaluru from Prestige Group to establish a global capability centre. The lease agreement, with a three-year lock-in period, marks one of the largest deals this year. This move supports Walmart's expansion in India and reflects the strong recovery in the office leasing sector.

The Economic Times

Property Share files DRHP for Rs 353 crore IPO for maiden SM REIT scheme.

The offer proceeds are intended primarily for the acquisition of the Prestige Tech Platina asset by the Platina SPVs, with the remaining funds allocated for general corporate purposes.

Mint

Property Share files draft papers with Sebi for ₹353 crore IPO; details here

The proceeds from the offer are planned to be used mainly for acquiring the Prestige Tech Platina asset by the Platina SPVs, with any remaining funds allocated for other general corporate purposes.

Business Standard

Prestige Group eyes Rs 1,100 cr revenue from new housing project in B'luru

Realty firm Prestige Group has launched a new housing project in Bengaluru with a sales potential of Rs 1,100 crore. The project 'Prestige Pine Forest', spread over 9 acres, is located at Whitefield in Bengaluru. The company will develop 316 units in 4 towers, the company said in a statement on Monday. Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments -- residential, office, retail, hospitality, property management, and warehouses with operations in more than 13 major locations in India. The group has completed more than 300 projects spanning a developable area of 190 million square feet.

Business Standard

Prestige Estates Projects Ltd Surges 2.59%, BSE Realty index Gains 1.17%

Prestige Estates Projects Ltd has added 8.63% over last one month compared to 2.26% gain in BSE Realty index and 3.35% rise in the SENSEX

The Economic Times

Delhi's office market set for major expansion with over 15 million sq f t of new space in the pipeline

Delhi's office market is set for a significant boost with over 13 million sq ft of new office space being added in the coming years. Major projects by NBCC, Bharti, GMR, and Prestige are driving this growth, attracting corporates back to Delhi from Gurugram and Noida.

Business Line

Movers & Shakers: Stocks that will see action this week

Here is what the charts say about the shares of Linde India, Prestige Estates Projects and Sundram Fasteners

The Economic Times

Prestige Estates to use Rs 5k-cr QIP raise to pare debt, acquire assets, says CMD Irfan Razack

The firm plans to invest Rs 16,000 crore to fuel its growth and sell Rs 50,000-crore worth residential assets over the next five years. It also targets more than four times growth in exit rental income from office and retail segments by FY28, the company said in an investor presentation post the March quarter results.

CNBC TV18

Prestige Estates raises ₹5,000 crore by selling shares via QIP route

Bengaluru-based Prestige Estates is one of the leading developers of the country, with a significant presence in the south Indian market.

CNBC TV18

PNB Housing Finance to raise ₹2,500 crore via NCDs on private placement basis

Shares of Prestige ended at ₹1,078.90, up by ₹53.35, or 5.20% on the BSE.

The Economic Times

Prestige Estates subsidiary buys 4.5 acres in Pune from joint development partner

Prestige Exora Business Parks, a subsidiary of Prestige Estates Projects, has acquired its partner's development rights and a land parcel in Pune's Kharadi locality for over Rs 200 crore. The deal follows amendments to a joint development agreement made in March. Prestige Estates is also raising up to Rs 5,000 crore through equity shares to institutional investors.

CNBC TV18

Prestige Estates raises ₹5,000 crore by selling shares via QIP route

Bengaluru-based Prestige Estates is one of the leading developers of the country, with a significant presence in the south Indian market.

CNBC TV18

Prestige Estates raises ₹5,000 crore by selling shares via QIP route

Bengaluru-based Prestige Estates is one of the leading developers of the country, with a significant presence in the south Indian market.

CNBC TV18

Prestige Estates raises ₹5,000 crore by selling shares via QIP route

Bengaluru-based Prestige Estates is one of the leading developers of the country, with a significant presence in the south Indian market.

CNBC TV18

Prestige Estates shares warrant a re-rating, says CLSA after ₹5,000 crore QIP closure

CLSA believes that this fund raise should allay concerns on growth and rising debt levels for Prestige Estates.

Business Standard

Prestige Estates Projects Ltd leads losers in 'A' group

CCL Products (India) Ltd, Hatsun Agro Product Ltd, Globus Spirits Ltd and PCBL Ltd are among the other losers in the BSE's 'A' group today, 05 September 2024.

The Economic Times

Prestige Estates subsidiary buys 4.5 acres in Pune from joint development partner

Prestige Exora Business Parks, a subsidiary of Prestige Estates Projects, has acquired its partner's development rights and a land parcel in Pune's Kharadi locality for over Rs 200 crores. This move follows an amended joint development agreement with B U Bhandari M&M Realtors LLP. The deal reflects the growing demand for real estate in key cities.

CNBC TV18

2 real estate companies have raised ₹5,800 crore via QIPs, CNBC-TV18 learns

Shares of Max Estates Ltd ended at ₹673.45, down by ₹8.90, or 1.30%, and Prestige Estates Projects Ltd ended at ₹1,816.00, up by ₹91.75, or 5.32%, on the BSE.

Business Standard

Realty firm Prestige Estates launches QIP to raise up to Rs 5,000 crore

Realty firm Prestige Estates Projects Ltd plans to raise up to Rs 5,000 crore by selling equity shares to institutional investors through private placement. The company on Thursday launched its Qualified Institutional Placement (QIP). A fundraising committee of the board approved the floor price for the QIP issue at Rs 1,755.09 per equity share. In July, the company had taken approval of its shareholders to raise capital by way of public or private offerings including through a QIP to eligible investors through an issuance of equity shares or other eligible securities for an amount not exceeding Rs 5,000 crore. Bengaluru-based Prestige Estates is one of the leading developers in the country, with a significant presence in the South India market. The company has entered Mumbai and Delhi-NCR markets as well. Recently, Prestige Estates Projects reported a 13 per cent decline in its consolidated net profit to Rs 232.6 crore in the June 2024 quarter on higher expenses. Its net profit

The Economic Times

WeWork India in talks to lease 400,000 sq ft in Delhi, Gurgaon

The company is taking 148,000 at Prestige Trade Tower and 115,000 at Bharti Worldmark 6 at Delhi’s Aerocity, besides 140,000 at DLF’sCyber City in Gurgaon.

CNBC TV18

Prestige Estates launches QIP to raise ₹5,000 crore — Here's how it plans to use the funds

Prestige Estates plans to utilise the proceeds from the share sale for multiple purposes.

Mint

A lost quarter: Prestige Estates’ slow start leaves it a lot to catch up

The real estate developer could launch only two residential projects in the financial first quarter in Bengaluru, its home turf, mainly due to delays in project approvals. Prestige has set itself a huge target for 2024-25. Now it has to rush to achieve that.

Business Standard

Prestige Estates reports Q1 sale bookings down 23% at Rs 3,029 cr

Realty firm Prestige Estates Projects Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore in the first quarter of this fiscal on lower volumes due to delay in launches of new projects. Its sale bookings stood at Rs 3,914.7 crore in the year-ago period. In a regulatory filing, Prestige Estates said the company sold 2.86 million square feet in April-June against 3.83 million square feet in the corresponding period of the previous year. Total units sold during the first quarter of 2024-25 were 1,364. The average realisation was Rs 11,934 per square feet for apartments, villas and commercial spaces, up by 16 per cent year-on-year (yoy). Plots saw an average realisation of Rs 7,285 per sq ft, up by 46 per cent yoy. "We are pleased with our performance in Q1 FY25, which reflects our robust market presence. Despite the lag in approvals and project launches during the election period, we still crossed a commendable sales figure of Rs 3,000 crore," Irfan Razack

The Economic Times

Prestige Estates sees 22% sales dip in Q1 FY25 due to election delays

Prestige Estates Projects Limited experienced a 22% decrease in sales for Q1 FY25 at Rs 3029 crore, largely due to the general election and delays in project approvals. The sales volume decreased from 3.83 million square feet to 2.86 million square feet. Despite this, the company crossed a sales figure of Rs 3,000 crore.

Business Line

Prestige Estates stock hits 52-week high on fundraising plans of ₹5,000 via QIP

On the BSE, the stock rose 2.68%, to trade at ₹2,044.10 as of 2.40 pm