Prestige Estates Projects Limited — Capital/Financing Update 2025

Feb 3, 2025

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Date: February 3, 2025

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) Dalal Street Mumbai-400051 Mumbai – 400 001 NSE Scrip code: PRESTIGE BSE Scrip code: 533274

Dear Sir / Madam,

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

In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that on February 3, 2025:

1. The Company has executed agreement for acquiring 39% equity stake in Prestige Falcon Mumbai Realty Private Limited, subsidiary Company. With this acquisition, the Company will hold 90% stake in Prestige Falcon Mumbai Realty Private Limited.

2. Prestige Hospitality Ventures Limited, wholly owned subsidiary of the Company has executed agreement for acquiring 42.55% equity stake in Prestige Leisure Resorts Private Limited, subsidiary Company. With this acquisition, Prestige Leisure Resorts Private Limited will become a wholly owned Step-Down subsidiary of the Company.

The specific details required to be disclosed in respect of aforesaid transaction under Regulation 30 of the Listing Regulations, read with Schedule III thereto, SEBI Master Circular issued vide circular no. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, is attached as Annexure – I to this letter.

This is for your information and records.

Thanking you.

Yours faithfully, For Prestige Estates Projects Limited IRFAN Digitally signed by IRFAN RAZACK RAZACK Irfan Razack Chairman and Managing Director DIN: 00209022

Enclosed: a/a

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 - l.

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:

1. Details for acquisition of stake in Prestige Falcon Mumbai Realty Private Limited:

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----- Start of picture text ----- Name of the target entity, details in Prestige Falcon Mumbai Realty Private1. brief such as size, turnover etc. Limited is a subsidiary of the Company andwas incorporated in the year 2022. It is intobusiness of Real Estate Construction andancillary activities.Turnover for the year ended March 31, 2024 isRs. 29.768 millionThe target entity has one ongoing residentialproject with total developable area of 2.92 mnsft.Whether the acquisition will fall The additional stake is being acquired at arm’s2. within related party transaction(s) length basis from M/s. Pinnacle Investmentsand whether promoter/ promoter related to the promoters of the Company.group/ group companies have anyinterest in the entity being As this acquisition, together with earlieracquired? If yes, nature of interest transactions entered during the year withand details thereof and whether the M/s. Pinnacle Investments exceeds the limitssame is done at “arm’s length” of a material related party transaction, theCompany had sought and received approvalfrom the shareholders through postal ballot onDecember 25, 2024 for acquisition of stake inPrestige Falcon Mumbai Realty PrivateLimited.Industry to which the entity belongs Real Estate Construction and ancillary3. to activities.Objects and effects of acquisition Business reasons and for consolidation of4. stake in the target entity.The Company is holding 51% stake in thetarget entity and post this acquisition, it willhold 90% stake in Prestige Falcon MumbaiRealty Private LimitedBrief details of any governmental or Not Applicable5. regulatory approvals required forthe acquisition----- End of picture text -----

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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6.	Indicativetimeperiodforcompletion of the acquisition	To be completed by February 28, 2025 or suchother date as the Company and Seller maymutually agree.	To be completed by February 28, 2025 or suchother date as the Company and Seller maymutually agree.
7.	Consideration	Cash consideration against shares
8.	Price at which shares would besubscribed	Consideration of Rs. 1,890 million.
9.	Percentage of shareholding/ no. ofshares acquired	39% equity shares of Prestige FalconRealty Private Limited	Mumbai
	Brief background about the entity	PrestigeFalconMumbaiRealty	Private
10.	acquired in terms of products/line	Limited, Company incorporated under the
	ofbusinessacquired,dateof	Companies Act, 2013 and is into business of
	incorporation, history of last 3 years	RealEstateConstructionand	ancillary
	turnover, country in which the	activities.
	acquired entity has presence and
	any other significant information (in	The turnover of Prestige Falcon	Mumbai
	brief);	Realty Private Limited for the last two years is
		given herein below:
		FY 2023-24: Rs. 29.768 million
		FY 2022-23: Nil

2. Details for acquisition of stake in Prestige Leisure Resorts Private Limited

1.	Name of the target entity, details inbrief such as size, turnover etc.	Prestige Leisure Resorts Private Limited is asubsidiaryoftheCompanyandwasincorporated in the year 1998. It is intobusiness of Real Estate Development ofHospitality Projects.Turnover for the year ended March 31, 2024 isRs. 461.279 millionThe target entity has one operating hospitalityproject – Angsana Oasis Resort & Spa.
	Whether the acquisition will fall	The additional stake is being acquired at arm’s
2.	within related party transaction(s)	length basis from the promoters and their
	and whether promoter/ promoter	relatives of the Company.
	group/ group companies have any
	interestintheentitybeing
	acquired? If yes, nature of interest
	and details thereof and whether the
	same is done at “arm’s length”

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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3.	Industry to which the entity belongsto	Real Estate Development
4.	Objects and effects of acquisition	Business reasons and for consolidation ofstake in the target entity.The Company through its wholly ownedsubsidiary,PrestigeHospitalityVenturesLimited is holding 57.45% stake in the targetentity and post acquisition, it will become awholly owned Step Down subsidiary of theCompany.
5.	Brief details of any governmental orregulatory approvals required forthe acquisition	Not Applicable
6.	Indicativetimeperiodforcompletion of the acquisition	To be completed by February 28, 2025 or suchother date as the Company and Seller maymutually agree.
7.	Consideration	Cash consideration against shares
8.	Price at which shares would besubscribed	Consideration of Rs. 982.990 million.
9.	Percentage of shareholding/ no. ofshares acquired	42.55% equity shares of Prestige LeisureResorts Private Limited
10.	Brief background about the entityacquired in terms of products/lineofbusinessacquired,dateofincorporation, history of last 3 yearsturnover, country in which theacquired entity has presence andany other significant information (inbrief);	Prestige Leisure Resorts Private Limited,Company incorporated under the CompaniesAct, 1956 and is into the business of RealEstate Development of Hospitality Projects.The turnover of Prestige Leisure ResortsPrivate Limited for the last three years is givenhereinbelow:FY 2023-24: 461.279 millionFY 2022-23: Rs. 643.50 millionFY 2021-22: Rs. 468.159 million

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