PRESTIGE ESTATES PROJECTS LTD.

Prestige Estates Projects Ltd has issued a clarification regarding a news article suggesting a hold on its hospitality IPO plans in favor of a stake sale. The company confirmed that its Board has formed a sub-committee to evaluate the monetization of its hospitality segment through its wholly-owned subsidiary, Prestige Hospitality Ventures Limited. This evaluation is contingent upon market conditions and necessary approvals. Prestige Estates stated that there is no material event requiring immediate disclosure at this stage and will comply with all applicable regulations for future disclosures.

Prestige Estates Projects Limited has executed a reconstituted Limited Liability Partnership Deed for Stellar Envision LLP, a wholly-owned subsidiary. Following this, Prestige Estates' partnership interest in the LLP has been reduced to 50%. The LLP, which focuses on real estate projects in Bangalore, saw a consideration of Rs. 0.05 million for this disinvestment. The net worth of the LLP as of March 31, 2026, was Rs. 0.1 million, with nil other income. The new partner is engaged in the Real Estate business and is not part of the promoter or group companies. This transaction is not considered a related party transaction.

Prestige Estates Projects Ltd has launched "Prestige Gardenia Estates – Phase 2", a plotted development project in Devanahalli, Bangalore. This new phase, spread over approximately 21 acres, comprises 195 plots with a total development area of under 0.5 million sq ft and an estimated revenue potential of Rs. 400 Crores. The project offers modern amenities and is strategically located near Kempegowda International Airport and key infrastructure. The company highlighted the strong demand for such developments in North Bengaluru, referencing the successful sell-out of Phase 1.

Prestige Group, in partnership with Bengaluru Airport City Limited (BACL), has unveiled a significant integrated destination within Bengaluru Airport City. This development aims to create a comprehensive ecosystem combining business, hospitality, culture, and experiences. It will feature a state-of-the-art convention and exhibition centre, luxury hotels under the St. Regis and Marriott Marquis brands, premium office spaces, and curated F&B offerings. The project is strategically located to serve global travellers, event organizers, corporations, and residents, enhancing Bengaluru's position as a global gateway and a dynamic centre for commerce and collaboration. This initiative is expected to catalyze economic growth, business tourism, and employment opportunities in the region.

Prestige Estates Projects Ltd's board approved audited financial results for the quarter and year ended March 31, 2026, recommending a final dividend of 20% (₹2 per share). They also approved the issuance of non-convertible debentures up to ₹2,000 Crores on a private placement basis, subject to shareholder approval. Ms. Uzma Irfan was redesignated as Whole-Time Director for five years, effective May 21, 2026.

Prestige Estates Projects Ltd's board meeting on May 21, 2026, approved the audited financial results for the year ended March 31, 2026, and recommended a final dividend of ₹2 per share (20%). The board also approved the issuance of non-convertible debentures (NCDs) for up to ₹2,000 Crores on a private placement basis, subject to shareholder approval. Additionally, Ms. Uzma Irfan was redesignated as Whole-Time Director for a 5-year term.

Prestige Estates Projects Ltd's Monitoring Agency Report for the quarter ended March 31, 2026, issued by ICRA Limited, confirms no deviation in the utilization of QIP proceeds. The report, submitted in compliance with Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicates that the use of issuance proceeds aligns with the stated objectives. Net proceeds have been revised to ₹4899.17 Crore due to an increase in issue-related expenses.

Prestige Estates Projects Ltd has scheduled a Board of Directors meeting on May 21, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The board will also consider recommending a final dividend for the financial year ending March 31, 2026, and the issuance of Non-Convertible Debentures. The trading window is closed from April 1, 2026, to May 23, 2026. An investor/analyst call is scheduled for May 22, 2026.

Prestige Estates Projects Limited announced a strong response to its recently launched residential project, Prestige Golden Grove, in Hyderabad. The project, one of the largest single-phase developments in the city, saw over 4,000 customer footfalls. Within two weeks of launch, the company achieved sales of over 1,700 units, translating to a total sales value exceeding ₹2,500 crore. Strategically located in Tellapur, the ~29-acre development comprises approximately 5,120 units across 10 towers, with an estimated gross development value (GDV) of ~₹9,500 crore. The strong early traction underscores sustained homebuyer demand and reflects customer confidence in well-located, thoughtfully designed residential developments in Hyderabad.

Prestige Estates Projects Ltd announced its operational performance for the quarter and financial year ended March 31, 2026. The company achieved its highest-ever annual sales of ₹3,00,245 million in FY26, a 76% year-on-year growth, with total sales volume reaching 22.28 million square feet. Collections also hit a record ₹1,85,146 million, reflecting a 53% year-on-year growth. During the year, the company added new projects with an estimated Gross Development Value (GDV) of over ₹5,00,000 million, enhancing its future growth pipeline. For Q4 FY26, sales stood at ₹76,973 million (11% YoY growth) and collections were ₹52,314 million (66% YoY growth). All segments, including Residential, Commercial, Retail, and Hospitality, demonstrated strong and consistent performance, with office occupancies over 90% and retail near 99%.