Prestige Estates rallies 5% on Rs 2,001-cr deal with Abu Dhabi Investment & Kotak AIF

Prestige Estates gains in six out of the past seven sessions.

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26 Aug, 2025 12:21

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Shares of Prestige Estates Projects Ltd gained nearly 5 percent after the company, through its subsidiaries, signed a deal worth Rs 2,001 crore with Abu Dhabi Investment Authority and Kotak AIF for growth opportunities in the residential sector with a gross development value of Rs 18,000 crore.

In an exchange filing on April 1, Prestige Estates said that the Rs 2,001-crore deal is dedicated to the development of residential projects in prominent locations across four cities in India.

At 9.39am, shares of Prestige Estates traded 4.6 percent higher at Rs 1,224.30. The stock has gained in the past three weeks consistently. In the past six months, the shares have gained nearly 100 percent, though the rise is only 3 percent on a year-to-date basis.

The collaboration with ADIA and Kotak AIF represents a considered move towards adopting strong and organic growth for Prestige Group, the company said in the filing. "The deal, with its substantial size, upholds company's vision to sustain its leadership position in the industry. It is aimed at catalysing the development of early-stage residential projects, ensuring the company's commitment to prudent expansion and diversified growth," said Prestige Estates.

"Given the increasing demand and consolidation in the sector, this deal will help in accelerating growth and expansion," said Venkat K Narayana, Group CEO, Prestige Group. These funds will fuel the development of greenfield residential projects across the cities of Bengaluru, Mumbai, Goa, and NCR with a combined GDV of over Rs 18,000 crore, contributing significantly to the topline,” he added.