Prestige Estates Projects Limited has announced an investment of up to ₹1,625.04 crore in its wholly owned subsidiary, Prestige Hospitality Ventures Limited (PHVL). The funding will be facilitated through a rights issue, which has been approved by the Management Sub-Committee of the Board of Directors.
The capital infusion will be executed in one or more tranches and is aimed at strengthening PHVL’s hospitality operations. The investment will support the development and expansion of hospitality projects, reinforcing Prestige Estates’ commitment to growing its presence in the sector.