Page 4 - Prestige Estates

Plan to grow annuity portfolio to over Rs 2,800 crore: Prestige Estates CEO

Venkat K Narayana, CEO of Prestige Estates Projects, tells Raghavendra Kamath that residential sales will do well due to multiple factors, and that demand for office properties will remain robust

Stocks to watch: GAIL, Bata India, Prestige Estates, Tata Motors, Glenmark

Reserve Bank of India granted approval for the re-appointment of Chandra Shekhar Ghosh, Managing Director & Chief Executive Officer of Bandhan Bank for a period of three years

Prestige Estates Q4 profit jumps multi-folds to Rs 1,336 cr on asset sale

Prestige Estates on Tuesday reported a sharp increase in its consolidated net profit to Rs 1,336.3 crore for the quarter ending March, driven by monetisation of large portfolio of commercial assets.

New capex to drive Prestige Estates' rental portfolio scale up

The company is expected to be debt free by the end of June quarter

Prestige Estates to take over $1.4-billion project from bankrupt firm

The court-appointed insolvency resolution professional Jayesh Sanghrajka declined to comment when reached by phone

Prestige Estates completes phase 1 of Blackstone deal; stock jumps 4%

The management said the company has a strong development pipeline of about 43 mnsft office and retail portfolio in the key locations across the cities

Stocks to watch: IDBI Bank, M&M, Prestige Estates, SBI Life, Quick Heal

M&M has got a green signal from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor

Prestige Estates sells assets worth Rs 7,467 crore to Blackstone Group

Prestige Estates Projects has completed phase one of the proposed transaction with Blackstone Group with enterprise value forming part of phase one at Rs 7,467 crore.The total enterprise value including phase two is Rs 9,160 crore as mentioned in the initial disclosure.Prestige said the overall transaction includes a 100 per cent stake sale in six completed office projects including a hotel and a 50 per cent stake sale in four under-construction projects. It will also include 85 per cent stake sale in nine shopping malls.Phase one of the transaction includes the sale of 12 assets comprising of completed retail, office and hotel assets. Phase two of the transaction is expected to complete by the end of next quarter."We believe that this transaction will further strengthen our foundation and help us in gearing up for the next level of growth," said Irfan Razack, Chairman of the Prestige Group."This transaction will also aid us in building a long-term strategic partnership with ...

Prestige concludes phase 1 of deal with Blackstone at Rs 7,467 cr

The Prestige-Blackstone deal is one of the largest real estate deals in the country

From Prestige to Sobha, listed realty firms post best-ever quarterly sales

During the quarter, Prestige racked up sales of Rs 2,026 crore, up 80 per cent quarter-on-quarter and 55 per cent year-on-year

Prestige Estates, Century in talks to develop Rs 600-crore property

Bengaluru asset has a development value of Rs 12,000-14,000 crore

$1.5-billion deal of Blackstone-Prestige Estates gets CCI approval

Valued at $1.5 billion, this is one of the largest real estate deals in the country comprising the sale of 21 million square feet of assets

Prestige Estates Projects looks to offload residual stake in malls

Prestige will sell 85-87 per cent in its nine operational malls to Blackstone in places such as Bengaluru, Mysuru, Mangaluru, and Hyderabad

Prestige to invest Rs 2,000 cr on 4 new housing projects in Bengaluru, Goa

Prestige Estates Projects will develop four new housing projects in Bengaluru, Goa and Hyderabad with an investment of nearly Rs 2,000 crore amid recovery in demand for residential properties

Nifty Realty index surges nearly 3%; DLF, Prestige Estates advance 5% each

Pick-up in demand and supportive measures from the government have aided in revival of sentiments for the sector.

Prestige Estates: Medium term growth prospects hinge on capex cycle

Deal to sell commercial assets and residential recovery are near term positives

Will retire Rs 6,000-crore debt after Blackstone deal: Prestige Estates CMD

The total portfolio is expected to be around 21 million square feet (mn sq ft) of completed and under construction projects, said CMD Razack

Realty shares rebound after FM announces measures to boost sector

Godrej Properties, Oberoi Realty, Prestige Estates and Brigade Enterprises from the Nifty Realty index were up 1 per cent each, recovering by upto 2 per cent from their respective intra-day's low.

Realty firm Prestige Estates' Q2 net profit down 40% at Rs 94 crore

Bengaluru based realty firm Prestige Estates Projects Ltd on Wednesday reported a 40 per cent fall in its consolidated net profit at Rs 93.8 crore for the quarter ended September.

Prestige Estates to sell assets worth Rs 11,000 cr to Blackstone, cut debt

Indian company plans to build twice the amount of commercial property space it is selling to the global fund manager.