March 29, 2025 admin Leave a reply Post Comment

Prestige Estates to invest Rs 1625 crore in hospitality business

Prestige Estates Projects Ltd has approved an investment of up to Rs 1,625.04 crore in its wholly-owned subsidiary, Prestige Hospitality Ventures Ltd (PHVL), through a rights issue. The investment, which will be carried out in one or more tranches, aims to strengthen PHVL’s hospitality business, which focuses on developing and operating hospitality projects.

PHVL, incorporated in 2017, reported a turnover of Rs 4,161 crore for the financial year ended March 31, 2024.

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