ICICI Securities: Prestige Estates Projects’ All Eyes On Annuity Assets

Assets which are part of the proposed Prestige-Blackstone deal have an estimated enterprise valuation of Rs 142 billion.

Prestige Estate RMV Stage 2, Sanjay Nagar, Bangalore Project (image: Company website)
Prestige Estate RMV Stage 2, Sanjay Nagar, Bangalore Project (image: Company website)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Prestige Estates Projects Ltd. has informed that it has signed a non-binding Letter of Intent (LoI) with the Blackstone Group for the sale of company’s direct and indirect interest in its office, retail, hotel properties and property/facilities management businesses.

The consummation of any transaction between the parties will be subject to completion of due diligence, finalisation of the transaction structure and receipt of approvals.

We currently value Prestige Estates’s share in these businesses at an enterprise value of Rs 142 billion.

Click on the attachment to read the full report:

ICICI Securities Prestige Estates Company Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.