Prestige Completes Acquisition of Aspire Spaces Tellapur LLP Stake

Prestige Completes Full Ownership of Aspire Spaces Tellapur

Prestige Estates Projects Limited completed the acquisition of 100% partnership interest in Aspire Spaces Tellapur LLP on February 18, 2026, through its wholly owned subsidiaries. The acquisition makes the LLP a wholly owned step-down subsidiary of Prestige Estates Projects.

Transaction Details

The acquisition was completed for Rs. 1 Million, a nominal amount reflecting the entity's purpose as a land-holding vehicle. The transaction does not fall within related party transactions, and no governmental or regulatory approvals were required for completing this transaction.

Strategic Intent: A 10 Million Square Foot Development

The acquisition targets development of a residential project in Tellapur, Hyderabad, with approximately 10 million square feet of saleable area. Aspire Spaces Tellapur LLP, incorporated on July 26, 2024, operates in real estate development with nil turnover for the year ended March 31, 2025.

This structure is typical in real estate: developers establish dedicated entities to hold land rights and manage regulatory approvals before launching active construction. By acquiring full ownership, Prestige gains complete operational control over the entity and its future real estate development activities in the Tellapur region.

Tellapur in Prestige's Hyderabad Expansion

Hyderabad saw the largest concentration of Prestige's Q1 FY26 buying, with the developer securing 28 acres in Tellapur and 37 acres in Pulimamidi—two high-growth micro-markets within the city's IT and finance corridors. The Aspire Spaces acquisition consolidates Prestige's foothold in this corridor.

Tellapur has been identified as a vital corridor due to its immediate connectivity to the city's robust IT infrastructure. This specific location choice reflects a broader luxury housing demand in Hyderabad, where proximity to employment centers remains the primary driver for capital appreciation and rental yields.

Prestige Group's National Expansion

Prestige Estates Projects Limited has completed over 201 projects spanning more than 78 million square feet since its inception in 1986. As a public-listed company, it handles 60 ongoing projects covering over 61.33 million square feet, with another 36 ventures in the pipeline.

In the April-June quarter of FY26, Bengaluru-based Prestige Estates Projects acquired 102 acres across Bengaluru, Hyderabad, Chennai, and Mumbai. The parcels carry an estimated combined Gross Development Value (GDV) of ₹20,400 crore.

Regulatory Compliance

The acquisition was disclosed under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.