April 5, 2024
admin
(25 Seconds Reading) Prestige Estates Projects Ltd has secured Rs.2,001 crore or $240 million funding from Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The capital infusion is earmarked for the development of housing projects across four major cities as part of Prestige’s expansion strategy, the company said in a regulatory filing on Monday, April 1.
CEO Venkat K Narayana revealed that the funds, structured in a quasi-equity format, will power the development of four housing projects situated in Delhi-NCR, Mumbai, Goa, and Bengaluru. ADIA and Kotak AIF will acquire stakes in the special purpose vehicles (SPV) formed for these ventures.
