Stock Report

Advent Convention and Hotels International Ltd inks investment agreement with Prestige Group

Posted On : 2026-07-04 11:39:59( TIMEZONE : IST )

An Investment Agreement has been executed on 3rd July, 2026, by and among the Company, Advent Convention and Hotels International Limited ("ACHIL" - a wholly-owned subsidiary of the Company), Prestige Estates Projects Limited ("Prestige Estates"), and Prestige Falcon Realty Ventures Private Limited.

Under the terms of the Investment Agreement, Prestige Estates will acquire a 50% equity share capital stake (representing 50% of the economic and voting rights) in ACHIL for an aggregate consideration of Rs. 504 Crores (Rupees Five Hundred and Four Crores Only), subject to the fulfillment of customary terms and conditions specified therein. Consequent to this transaction, ACHIL shall cease to be a wholly-owned subsidiary of the Company, and the Company will continue to hold the remaining 50% economic and voting interest as a joint venture entity.

In this context, we would like to inform you that an intimation dated 29th May, 2025 was given by Valor Estate Limited ("Valor Estate") the erstwhile holding company of the Company to the Stock Exchange, that Valor Estate along with its wholly-owned subsidiaries, namely Esteem Properties Private Limited ("Esteem") and the Company, had entered into a Framework Agreement with Prestige Estates for the joint commercial development of a strategic land parcel owned by Esteem on land admeasuring 21,978.22 sq. meters, located at Sahar, Village Andheri, Taluka Andheri East, Mumbai Suburban District ("Project Property"), through a designated Special Purpose Vehicle ("SPV").

Further, pursuant to the Order dated 12th June 2025 passed by the Hon'ble NCLT, Mumbai Bench approving the Composite Scheme of Amalgamation and Arrangement dated 17th December, 2024, Esteem merged with Valor Estate and thereafter the hotel undertaking, comprising, inter alia, the aforesaid Project Property was demerged into the Company, pursuant to which the Company became the absolute owner of the Project Property. In alignment with the framework, the Company subsequently conveyed the said Project Property to ACHIL, which was designated as the exclusive SPV for the project.

Accordingly, the Company (in place of Valor Estate) and Prestige Estates have now executed this definitive Investment Agreement to implement 50:50 joint venture partnership.

Shares of Prestige Estates Projects Limited was last trading in BSE at Rs. 1667.70 as compared to the previous close of Rs. 1674.65. The total number of shares traded during the day was 297331 in over 4212 trades.

The stock hit an intraday high of Rs. 1698.00 and intraday low of 1647.95. The net turnover during the day was Rs. 500990363.00.