Prestige Estates share zooms over 6% in trade on Monday; check reasons here

Prestige Estates shares rose after the company said that it has entered into a 'Framework Agreement' with Arihant Foundations, to collaborate and jointly develop real estate projects in Chennai

Prestige Estates share price: Real estate company Prestige Estates Projects shares were buzzing in trade on Monday, May 12, 2025, with the stock surging up to 6.15 per cent to hit an intraday high of ₹1,361.25 per share. 

 

However, at 9:45 AM, Prestige Estates shares were off day’s high, and were trading 4.27 per cent higher at ₹1,337.05 per share. In comparison, BSE Sensex was trading 2.40 per cent higher at 81,360.37 levels.  Follow Stock Market Update Today LIVE

 

Here's what fuelled the rally

  Prestige Estates Projects shares rose after the company said that it has entered into a ‘Framework Agreement’ with Arihant Foundations and Housing, to collaborate and jointly develop real estate projects in Chennai.

 

In an exchange filing, Prestige Estates said, “We wish to inform you that the company has entered into a framework agreement with Arihant Foundations and Housing Limited (Arihant) to collaborate and jointly develop real estate projects in Chennai.” 

 

Under the deal, both the companies will explore opportunities across all classes of real estate, including Residential, Office, Retail and Hospitality Developments.  

 

Moreover, the terms and conditions of the JV/agreement are to be determined for each specific project to be undertaken under the pact, Prestige Estates said.

 

Last week, Prestige Group announced that The Prestige City, Indirapuram, has achieved sales of over ₹3,000 crore across 1,200 units within a week of its launch. 

 

“The strong customer response is a significant milestone for Prestige Group as it marks the company's foray into the NCR residential market,” the company said, in a statement.  ALSO READ | Adani Power charges up 7% on securing 1,500 MW order from UP Power Corp

 

About Prestige Estates

 

Prestige Estates Projects Limited is a real estate developer, with a diverse portfolio spanning residential, commercial, retail, and hospitality segments.

 

The company offers a wide range of real estate solutions—from upscale townships and apartments to luxury villas, office spaces, malls, and hotels. 

 

With more than 300 successfully completed projects covering over 180 million square feet, the company has established a strong footprint in more than 12 major cities across India. 

 

The company has 56 ongoing projects across segments, with a total developable area of 86 mn sqft. Further, it is planning 43 projects spanning 85 mn sqft and holds a land bank of over 728 acres as of September-23.