Realty firm Prestige Estates Projects Ltd has successfully raised Rs 2,001 crore in funds from Abu Dhabi Investment Authority (ADIA) and Kotak AIF. This investment aims to support the company’s expansion plan in developing housing projects across four major cities.
Prestige Group, through its subsidiaries, will utilize these funds to bolster their presence in the real estate market. The company’s expansion strategy focuses on creating high-quality housing projects that meet the growing demands of urban populations.
With the infusion of Rs 2,001 crore, Prestige Group aims to build housing projects worth Rs 18,000 crore. The developments will span across major cities, including Bengaluru, Chennai, Hyderabad, and Mumbai. The funding from ADIA and Kotak AIF will facilitate the company’s efforts to enhance affordable housing options and provide quality infrastructure to urban dwellers.
The collaboration between Prestige Group and the investors signifies a positive sentiment in the real estate sector. Investors recognize the potential for growth in the Indian housing market and are keen to participate in its development. ADIA and Kotak AIF’s investment in Prestige Group’s expansion plan demonstrates their confidence in the company’s ability to deliver high-quality projects on time.
Prestige Group has established itself as a leading real estate firm known for its commitment to excellence and customer satisfaction. The company has a strong track record of successfully delivering a range of residential and commercial projects. This latest funding will enable Prestige Group to continue its growth trajectory and contribute to the development of the real estate sector in India.
Overall, the infusion of Rs 2,001 crore from ADIA and Kotak AIF showcases the trust and confidence placed in Prestige Group by renowned investors. The funding will fuel the company’s vision of creating world-class housing projects that cater to the evolving needs of urban dwellers. With a focus on quality and innovation, Prestige Group is well-positioned to make a significant impact in the Indian real estate market.
