Prestige Estates Projects gains on inking pact to increase stake in Prestige (BKC) Realtors
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Prestige Estates Projects is currently trading at Rs. 476.70, up by 2.00 points or 0.42% from its previous closing of Rs. 474.70 on the BSE.
The scrip opened at Rs. 477.05 and has touched a high and low of Rs. 480.00 and Rs. 472.00 respectively. So far 8650 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 520.00 on 16-May-2023 and a 52 week low of Rs. 375.00 on 05-Jul-2022.
Last one week high and low of the scrip stood at Rs. 508.60 and Rs. 472.00 respectively. The current market cap of the company is Rs. 19153.17 crore.
The promoters holding in the company stood at 65.48%, while Institutions and Non-Institutions held 31.69% and 2.82% respectively.
Prestige Estates Projects through its wholly owned subsidiary -- Prestige Falcon Realty Ventures, has entered into agreements on May 29, 2023 to increase its stake from 50% on a fully diluted basis to 100% in Prestige (BKC) Realtors by acquiring securities from DB Realty and its subsidiaries.
Further, the Company and wholly owned subsidiary Prestige Falcon Realty Ventures (PFRVPL) have entered into agreements on May 29, 2023 to acquire balance 50% partnership interest from DB Realty in Turf Estate Joint Venture LLP, with this the Company and PFRVPL will jointly have 100% partnership interest in the Target LLP.
Prestige Estates Projects is engaged in the business of real estate development. The company’s principal products/services include Development and construction of Properties, Leasing of commercial properties and Share of profit /loss from partnership firm.
