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CPPIB to Invest ₹3,000 Crore in Prestige Estates' Hospitality Arm PHVL for Up to 28% Stake
Posted On : 2026-08-10 23:26:10( TIMEZONE : IST )
Prestige Estates Projects Limited (NSE: PRESTIGE; BSE: 533274) has announced that its sub-committee of the Board of Directors approved the execution of a binding framework agreement with CPP Investment Board Private Holdings (4) Inc. (CPPIB) and Prestige Hospitality Ventures Limited (PHVL).
Under the agreement, global pension fund manager CPPIB proposes to invest up to ₹3,000 crore (INR 30,00,00,00,000) into PHVL, representing an aggregate equity stake of up to 28%.
Structure of the Proposed Transaction
PHVL is currently a wholly-owned subsidiary of Prestige Estates Projects Limited. The transaction will be executed across multiple tranches through a combination of primary capital infusion and secondary share purchases:
Investor: CPP Investment Board Private Holdings (4) Inc., a Canadian corporation managing the Canada Pension Plan Fund.
Target Entity: Prestige Hospitality Ventures Limited (PHVL).
Total Investment Value: Up to ₹3,000 crore in tranches.
Stake Acquired: Up to 28% in PHVL.
Transaction Mode: Primary and secondary investments as defined in the forthcoming definitive agreements.
Prestige Estates Projects Limited (Consolidated Turnover): ₹13,195.5 crore (INR 1,31,955 million) in the last financial year.
Prestige Hospitality Ventures Limited (Standalone Turnover): ₹345.90 crore (INR 3,458.96 million) in the last financial year.
The completion of the transaction remains subject to customary closing conditions, including the completion of due diligence, finalization and execution of definitive documentation, and receipt of necessary lender and regulatory approvals.
Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1592.65 as compared to the previous close of Rs. 1580.55. The total number of shares traded during the day was 105497 in over 688 trades.
The stock hit an intraday high of Rs. 1608.90 and intraday low of 1563.85. The net turnover during the day was Rs. 167438524.00.
