Prestige Estates Guarantees ₹400 Cr Loan for Subsidiary

Prestige Estates Projects Ltd announced the issuance of a corporate guarantee for a loan of up to ₹400 Crores availed by its wholly owned subsidiary, Prestige Hospitality Ventures Limited. The guarantee is provided on an arm's length basis and complies with relevant regulations. While it represents a contingent liability for Prestige Estates, the company states there is currently no impact on its financials as the subsidiary is part of the consolidated group.