Prestige Estates Board Approves ₹2,000 Crore Non-Convertible Debenture Issuance

Board Approves ₹2,000 Crore Capital Raise via Debentures

Prestige Estates Projects Limited's board approved the issuance of non-convertible debentures worth up to ₹2,000 crore on a private placement basis at a board meeting held on May 21, 2026. The issuance is subject to shareholder approval.

The capital raise is intended to support the company's growth and operational requirements. Prestige clocked pre-sales of ₹30,024 crore in FY26, on account of sustained momentum throughout the year across multiple cities, providing a foundation for the planned fundraise.

Strong FY26 Financial Performance

The board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The auditors issued an unmodified opinion on the financial statements, indicating they present a true and fair view of the company's financial position in accordance with applicable accounting standards and principles generally accepted in India.

For the financial year ended March 31, 2026, Prestige Estates Projects Limited demonstrated robust performance, with the company reporting ₹40,804 million in revenue from operations on a standalone basis, with a net profit of ₹1,832 million.

20% Final Dividend Recommended

The company recommended a final dividend of 20 per cent (₹2 per share) for the financial year ended March 31, 2026, contingent on approval by shareholders at the company's 29th Annual General Meeting.

Board Redesignation and Governance

The board redesignated Ms. Uzma Irfan (DIN: 01216604) as Whole-Time Director for a five-year term effective from May 21, 2026, through May 20, 2031, subject to shareholder approval. She has gained corporate communications experience and currently serves as Director of Corporate Communications at the Prestige Group.

About Prestige Group

For more than 30 years, the company has shaped the city with its apartments, villas, office towers, shopping malls, and hotels. The group is known for its strong financial credibility, maintaining consistent CRISIL DA1+ developer grading — the highest in India — and ICRA A+ credit ratings.

Its portfolio includes over 180 million sq ft of delivered projects, and it currently holds a land bank of over 728 acres for future developments. As of 2025, Prestige Group operates across major Metro, including Bengaluru, Hyderabad, Chennai, Mumbai, Pune, Kochi, Goa, and Delhi-NCR, with landmark developments in each.