Prestige Estates Projects Limited — Capital/Financing Update 2021

Mar 10, 2021

Date: 10.03.2021

To,

The General Manager	The Manager
Dept. of Corporate Services	Dept of Corporate Services
National Stock Exchange of India Limited	BSE Limited
Bandra Kurla Complex	Floor 25, P J Towers
Bandra (E)	Dalai Street
Mumbai-400051	Mumbai — 400 001
NSE Scrip code: PRESTIGE	BSE Scrip code: 533274

Dear Sir / Madam,

Ref: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We refer to:

• (i) Our disclosure dated November 9, 2020 ("Initial Disclosure"), made in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR"), wherein we had informed you that Prestige Estates Projects Limited ("Company") has signed a term sheet ("Term Sheet") with BREP Asia II Indian Holding Co IX (NQ) Pte. Ltd; BREP Asia II Indian Holding Co VII (NQ) Pte. Ltd; BREP Asia II Indian Holding Co III (NQ) Pte. Ltd (collectively, "BREP Acquirers") for investing in, and/ or acquiring identified assets held by (i) the Company and / or certain of its subsidiaries (including of identified office assets, retail assets, hotels assets and management/ maintenance assets) in such manner as is detailed thereunder (such transactions being "Proposed Transactions").
• (ii) Our disclosure dated March 01, 2021("Subsequent Disclosure"), made in accordance with the SEBI LODR, wherein we had informed you that, pursuant to the Initial Disclosure, the Company has signed the Definitive Documents with BREP Acquirers with respect to the sale of 12 (twelve) assets/ undertakings comprising of identified office assets, retail assets, hotels assets and management/ maintenance assets).

In furtherance of the Subsequent Disclosure, this is to inform you that the Company has consummated the Proposed Transaction for sale of the assets/undertakings as detailed out below:

(a) Completed Office Assets:

Transfer of 100% of the right and interest of the Company and/ or its subsidiaries in the below mentioned completed office assets (including the management and maintenance business associated therewith).

Name of the entity		Name of the asset	Details of the asset
Cessna	Garden	Cessna Business Park and	Commercial office SEZ project, viz
Developers	Private	Aloft Hotel	situatedatCessnaBusinessPark,
Limited ("Cessna")			Village,VarthurKadubeesanahall i
			Taluk,Hobli,BengaluruEast
			Karnataka

Prestige Estates Projects Ltd., Prestige Falcon Towers, No 19 Brunton Road, Bangalore - 560 025

Phone : +91 80 25591080 Fax : +91 80 25591945 E-mail : properties@prestigeconstructions.com www.prestigeconstructions.com CIN : L07010KA1997PLCO22322

Add Prestige to your life

PrestigeEstates	Trade Tower	Commercial office project viz., Prestige
Projects Limited		Trade Tower situated at Municipal No.
		Grounds,46,PalaceRoad,High
		Bengaluru, Karnataka
PrestigeEstates	Fin Tech**	OfficeProject,vizCommercial
Projects Limited		Prestige Fintech situated in non SEZ
		area, GIFT City, Gandhinagar, Gujarat
		382355.

** Fin Tech transfer is expected to happen before March 31, 2021.

(b) Retail Assets:

Transfer of (i) 85% of the rights and interest held by the Company and / or its subsidiaries in the below mentioned retail assets; and (ii) 100% of the right and interest held by the Company in the maintenance and management business of the assets via the transfer of PAPL:

Name of the entity	Name of the asset	Details of the asset
PrestigeShantiniketanLeisures Private Limited	Forum Shantiniketan	Retail mall developed as part of the larger integrateddevelopment known as 'Prestige Shantiniketan' atandVillages,bothSadaramangalaHoodiinTalukKrishnarajapuramHobli, BangaloreEast(previously Bangalore South Taluk), Bengaluru,Karnataka
GardenPrestigeConstructionsPrivateLimited	ForumNeighbourhoodandOakwood Residences	Retail mall situated at Survey No.62, WhitefieldVillage, K.R. Puram Hobli, Bangalore East Taluk(previously Bangalore South Taluk), Bengaluru,Karnataka.
PrestigeHyderabadRetailVentures Private Limited	Forum Sujana	atsurveynumber1009,RetailmallsituatedKukatpally Village, and Mandal,Medchal Malkajgiri District, Telangana
PrestigeMangaloreRetailVentures Private Limited	Forum Fiza	Retail mall situated at TS NO. 210 (RS NO. 335),Attabar Village, Cantonment Ward, located onPandeshwar Road, Mangalore, Karnataka
PrestigeMysoreRetailVentures Private Limited	Forum Centre City	Retail mall situated at Municipal No. 5 (old No. 8),situated in Abba Road also known as Hyderali Road,Nazarabad Mohalla, Mysore, Karnataka
FlickerPrivateProjectsLimited	Forum Celebration	Retail mall situated in the layout plan of Bhuwana(Phase [I), National Highway 8, Udaipur, Rajasthan
Prestige Amusements PrivateLimited	The maintenance andmanagement businessof the above retailassets	operations,Entityprovidingmaintenance,management and/or related services for variousbusiness assets/ retail malls, having its office atPrestige Falcon Tower, No. 19, Brunton Road,Bangalore — 560025, Karnataka

Prestige Estates Projects Ltd., Prestige Falcon Towers, No 19 Brunton Road, Bangalore - 560 025. Phone : +91 80 25591080 Fax : +91 80 25591945 E-mail : properties@prestigeconstructions.com www.prestigeconstructions.com CIN : L070101CA1997PLCO22322

Additionally, this is to inform you that as a part of the Proposed Transaction, the Company has executed documentation and transferred the following assets/ undertakings on March 09, 2021, which is subject to completion of certain condition subsequent and payment of deferred consideration.

Name of the entity			Name of the asset	Details of the asset
PrestigeLimited	Retail	Ventures	Forum Koramangala	Retail mall situated at Municipal No. 21,Koramangala, Adugodi Village, BegurHobli, Bangalore South Taluk, Bengaluru,Karnataka
PrestigeParks Limited	Exora	Business	Exora Business Park	Office project, viz Exora Business Park,BellandurKhanesituatedatAmaniVillage, Bangalore East Taluk, Bengaluru,Karnataka

The total enterprise value forming part of the aforesaid transactions is approximately INR 74,670,000,000 (Rupees Seventy Four Billion Six Hundred and Seventy Million Only) out of the enterprise value of approximately INR 91,600,000,000 (Rupees Ninety One Billion Six Hundred Million only) as mentioned in the Initial Disclosure. With the closing of the aforesaid transactions, the Company is now reduced debt to the extent of INR 45,940,000,000 (Forty Five billion Nine Hundred and Forty Million Only).

Upon consummation of the remaining transactions (Phase 2) as contemplated in Initial Disclosure, further intimation will be made to stock exchange.

This is for your information and records.

Thanking you.

Yours faithfully,

For, Prestige Estates Projects Limited.

Chief Executive Officer

Venkat arayana oco

erri "t)i\ (n) I 4/ Bangatore ry,