Prestige Estates moves up on inking pact to acquire 50% stake in Advent Convention and Hotels International
Prestige Estates Projects is currently trading at Rs. 1676.45, up by 8.75 points or 0.52% from its previous closing of Rs. 1667.70 on the BSE.
The scrip opened at Rs. 1689.55 and has touched a high and low of Rs. 1689.55 and Rs. 1,695.35 respectively. So far 306 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1812.40 on 22-Jul-2025 and a 52 week low of Rs. 1090.45 on 02-Apr-2026.
Last one week high and low of the scrip stood at Rs. 1698.00 and Rs. 1524.95 respectively. The current market cap of the company is Rs. 71832.88 crore.
The promoters holding in the company stood at 60.94%, while Institutions and Non-Institutions held 36.79% and 2.27% respectively.
Prestige Estates Projects has entered into an investment agreement to acquire 50% stake in Advent Convention and Hotels International. The objective of acquisition is to develop a commercial project on lands admeasuring to 21,978.22 square meter located at Sahar, Village - Andheri, Mumbai Suburban District. The Project entails a total leasable area of around 1.50 million square feet and has a Gross Development Value of around Rs 4,500 crore. The company will infuse an amount of up to Rs 504 crore for the acquisition.
Advent Convention and Hotels International is undertaking development of a commercial project in Mumbai.
