Prestige Estates Projects Limited — Capital/Financing Update 2024

Dec 27, 2024

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Date: December 27, 2024

To ,

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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) Dalal Street
Mumbai-400051 Mumbai – 400 001
NSE Scrip code: PRESTIGE BSE Scrip code: 533274
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Dear Sir / Madam,

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

We wish to inform you that the Company has on December 27, 2024 entered into a Business Transfer Agreement (“ BTA ”) with Prestige Hospitality Ventures Limited, a wholly owned subsidiary for transferring the following Business undertaking consisting of:

1. Mulberry Shades Bengaluru Nandi Hills, A Tribute Portfolio Resort

2. Underlying land along with all rights at Moxy Outer Ring Road.

3. 57.45% equity shares of Prestige Leisure Resorts Private Limited.

Prestige Hospitality Ventures Limited is wholly owned subsidiary of the Company and there shall be no effective dilution of the Company’s interest in Business undertaking pursuant to the transfer.

The details as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11[th ] July, 2023 and SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated 13[th ] July, 2023 are enclosed in Annexure I.

This is for your information and records.

Yours faithfully, For Prestige Estates Projects Limited VENKATARATHNAIA Digitally signed by H SETTY VENKATARATHNAIAH SETTY JEELAKUNTE MANOJ KRISHNA JEELAKUNTE MANOJ Date: 2024.12.27 17:47:19 KRISHNA +05'30' Manoj Krishna J V Company Secretary and Compliance Officer

Enclosed: As above

Prestige Estates Projects Limited , Prestige Falcon Towers, No 19 Brunton Road, Bangalore - 560 025. Phone : +91 80 25591080 Fax : +91 80 25591945 E-mail : investors@prestigeconstructions.com www.prestigeconstructions.com CIN : L07010KA1997PLC022322

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Annexure - I

Information as required under Regulation 30-Para A Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 are as follows:

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The amount and percentage of the Turnover: INR 365.10 Million (0.38% of
1. turnover or revenue or income and net Consolidated Turnover)
worth contributed by such unit or
division or undertaking or subsidiary Net Investment: INR 2,188 Million (1.85% of
or associate company of the listed entity Consolidated Net worth)
during the last financial year
Date on which the agreement for sale has December 27, 2024
2 been entered into;
The expected date of completion of To be completed with 90 days unless otherwise
3 sale/disposal; mutually agreed by parties.
Consideration received from such Cash consideration of INR 3,130 Million
4 sale/disposal;
Brief details of buyers and whether Prestige Hospitality Ventures Limited is wholly
5 any of the buyers belong to the owned subsidiary of the Company.
promoter/ promoter group/group
companies. If yes, details thereof;
Whether the transaction would fall The acquisition is a related party transaction
6 within related party transactions? If yes, between the Company and its wholly owned
whether the same is done at “arm’s subsidiary. The transaction is done at arm’s length
length”, basis.
Whether the sale, lease or disposal of Not Applicable
7 the undertaking is outside Scheme of
Arrangement? If yes, details of the same
including compliance with regulation
37A of LODR Regulations.
Additionally, in case of a slump Disclosed in point 9 to 12 below.
8 sale, indicative disclosures provided
for amalgamation/merger, shall be
disclosed by the listed entity with
respect to such slump sale;
Area of business of the entity(ies); Hospitality segment
9
Rationale for the slump sale; The Hospitality Undertaking held by the
10 Company has been transferred to Prestige
Hospitality Ventures Limited, wholly owned
subsidiary of the Company for the purpose of
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Prestige Estates Projects Limited , Prestige Falcon Towers, No 19 Brunton Road, Bangalore - 560 025. Phone : +91 80 25591080 Fax : +91 80 25591945 E-mail : investors@prestigeconstructions.com www.prestigeconstructions.com CIN : L07010KA1997PLC022322

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		consolidating hospitality assets under a single vertical.
11	In case of cash consideration –amount or otherwise share exchange ratio;	Cash consideration of INR 3,130 Million
12	Brief details of change in shareholding pattern (if any) of listed entity.	Nil

Prestige Estates Projects Limited , Prestige Falcon Towers, No 19 Brunton Road, Bangalore - 560 025. Phone : +91 80 25591080 Fax : +91 80 25591945 E-mail : investors@prestigeconstructions.com www.prestigeconstructions.com CIN : L07010KA1997PLC022322