Prestige Estates Projects Ltd. has entered into a binding framework agreement with CPP Investment Board Pvt. Holdings Inc. (CPPIB) for a proposed investment of up to ₹3,000 crore in Prestige Hospitality Ventures Limited (PHVL), its hospitality business.
Under the proposed transaction, CPPIB will acquire a 28% stake in PHVL, with the investment to be made in multiple tranches through a combination of primary and secondary investments, subject to mutually agreed terms.
PHVL is currently a wholly owned subsidiary of Prestige Estates. The hospitality arm reported standalone revenue of ₹345.9 crore in FY26.
The transaction remains subject to several conditions precedent, including completion of due diligence, execution of definitive agreements and receipt of applicable regulatory and lender approvals. Prestige Estates said the timeline for completion will depend on fulfilment of these conditions.
The company clarified that the proposed transaction does not constitute a related-party transaction and that the disposal of the undertaking is not being undertaken outside a Scheme of Arrangement. Slump sale provisions are also not applicable.
The proposed investment marks a significant capital infusion into Prestige’s hospitality platform as the Bengaluru-based developer continues to expand its presence in the hotel sector.
Shares of Prestige Estates closed 0.6% higher at ₹1,595 on Monday, although the stock remained down 7.5% over the previous month, according to the report.
