Prestige Estates Shareholders Approve All Seven Resolutions at 29th AGM, Including ₹2 Dividend and ₹20,000 Crore NCD Issuance

Full Shareholder Approval at 29th Annual General Meeting

Prestige Estates Projects confirmed that all seven resolutions tabled at its 29th Annual General Meeting (AGM) on August 20, 2026, were passed by shareholders. The company disclosed the voting results and the scrutinizer's report dated August 21, 2026.

Dividend and Capital Raise Cleared

The approvals include the declaration of a ₹2 per share final dividend for FY26 and the issuance of Non-Convertible Debentures (NCDs) via private placement. Shareholders holding shares as of the record date, August 13, 2026, are eligible to receive the payout, scheduled for distribution on or before September 18, 2026.

The issuance of non-convertible debentures (NCDs) aggregating up to ₹20,000,000,000 via private placement is intended to optimize funding for project execution.

Promoter Support and Shareholder Composition

The promoter group held 262,500,000 shares, representing approximately 60.9% of the total outstanding shares of 430,730,232. Promoters voted in favour of all resolutions via e-voting with 100% support.

The total number of shareholders as on the cut-off date of August 13, 2026, was 1,80,051. Public institutional investors held 158,934,236 shares, while public non-institutional investors held 9,295,996 shares.

Board Changes and Other Resolutions

Shareholders also voted on the re-designation of Ms. Uzma Irfan as Whole-Time Director for five years, effective from May 21, 2026, to May 20, 2031, with remuneration not exceeding ₹2,000,000 per month.

Prestige Estates held its 29th AGM on Aug 20, 2026, with 147 attendees, discussing financials and business performance.

About the Developer

Prestige Group is an Indian real estate development company headquartered in Bengaluru, founded in 1986 by Abdul Razack Sattar as an extension of his earlier retail business established in 1950, and now led by his sons Irfan Razack (Chairman and Managing Director), Rezwan Razack, and Noaman Razack. With 302 completed projects delivering 193 million square feet of developed area as of September 2024, Prestige Group has established itself as one of South India's premier real estate firms, earning the distinction of being the only developer with a CRISIL DA1+ rating for construction and development capabilities.