Prestige’s ₹504 Cr Move into Mumbai Commercial Real Estate

In a move to expand its commercial footprint, real estate developer Prestige Estates Projects Ltd. has acquired a 50% stake in Advent Convention and Hotels International Ltd. (ACHIL) for ₹504 crore. According to a regulatory filing on July 3, the Bengaluru-based company will partner with ACHIL to jointly develop a commercial project on a 21,978-sq-m plot in Andheri East, Mumbai, significantly strengthening its presence in the financial capital's real estate market.

News by Rahul Yelligetti.