Prestige Estates rises 2% as unit acquires stake in Bharatnagar Buildcon

Prestige Estates shares rose 2 per cent after the company's subsidiaries, Prestige Falcon Realty and Prestige Projects, acquired a partnership interest worth ₹938.75 crore in Bharatnagar Buildcon

Shares of Prestige Estates Projects Ltd. rose over 2 per cent on Thursday after the company's subsidiaries, Prestige Falcon Realty and Prestige Projects, acquired a partnership interest worth ₹938.75 crore in Bharatnagar Buildcon LLP. 

 

The commercial project company's stock rose as much as 2.15 per cent during the day to ₹1,652.9 per share. The Prestige Estates stock pared gains to trade 1.7 per cent higher at ₹1,646.9 apiece, compared to a 0.20 per cent advance in Nifty 50 as of 10:25 AM. 

 

Shares of the company have fallen 2 per cent so far this month and currently trade less than one times the average 30-day trading volume, according to Bloomberg. The counter has fallen 2.7 per cent this year, compared to a 9 per cent advance in the benchmark Nifty 50.   FOLLOW LATEST STOCK MARKET UPDATES LIVE

 

Prestige Estates acquires stake in Bharatnagar Buildcon 

Prestige Estates said that its subsidiaries, Prestige Falcon Realty and Prestige Projects, have acquired a partnership interest in Bharatnagar Buildcon LLP. Following the transaction, the company now indirectly holds 66.93 per cent partnership interest in the LLP, the exchange said in a statement.

 

Bharatnagar Buildcon, incorporated in 2011, is engaged in real estate development and construction. The entity reported a turnover of ₹3,47,272 for the year ended March 31, 2025.

 

The acquisition, completed on December 10, 2025, is not a related-party transaction, the statement said, adding that the promoter group's interest is limited to their shareholding in Prestige Estates and its subsidiaries.

 

The subsidiaries infused ₹938.75 crore into the LLP by way of capital and current account contributions. Prestige Estates said the acquisition is driven by business considerations and will help consolidate its stake in the target entity.  ALSO READ | Swiggy share price rises 3% amid large trade; check all details here

Prestige Estates Q2 results 

The company reported a 95 per cent increase in consolidated net profit to ₹457.4 crore for the latest September quarter on higher income and lower expenses. Total income rose to ₹2,697.8 crore during the second quarter of this fiscal year, from ₹2,423.8 crore in the corresponding period of the preceding year. 

 

Irfan Razack, Chairman and Managing Director, Prestige Group, said the company has achieved steady financial and operational performance. With a healthy launch pipeline ahead, Razack said the company is well-positioned to sustain its growth trajectory through the remainder of the year.