Subsidiary10 Sept 2026, 10:13 am
Prestige Estates Incorporates Two Wholly-Owned Subsidiaries
AI Summary
Prestige Estates Projects Limited has announced the incorporation of two new wholly-owned subsidiaries: Southgrove Homes LLP and Parkgrove Realty LLP, both established on September 9, 2026. Each LLP has an initial contribution of INR 1,00,000, with Prestige Estates contributing the full amount for 100% partnership interest. These entities are incorporated to carry on the business of real estate development and have not yet commenced operations. As wholly-owned subsidiaries, they are considered related parties to the company, but the promoter and promoter group have no interest in these transactions, which are conducted at arm's length.
Key Highlights
- Prestige Estates establishes two new wholly-owned subsidiaries: Southgrove Homes LLP and Parkgrove Realty LLP.
- Both LLPs incorporated on September 9, 2026, with an initial contribution of INR 1,00,000 each.
- The subsidiaries are formed to engage in real estate development activities.
- These entities are yet to commence business operations.
- The transactions are considered related party transactions but are at arm's length.
Price Impact
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