Key Points of Prestige Estates Acquired Stake in Dashanya Tech:
- Prestige Estates Projects Ltd announced on Tuesday that its subsidiary has acquired a 51% stake in Dashanya Tech Parkz Private Ltd for Rs 66 crore.
- Dashanya Tech Parkz is a Bengaluru-based company that specializes in the development and construction of commercial office space and has been in business since March 2012.
- Dashanya Tech Parkz had a turnover of Rs 2,451 million for the fiscal year ended March 31, 2022.
- Prestige Group is one of the leading real estate developers in India and has a diversified business model covering residential, office, retail, hospitality, property management, and warehouses.
- Prestige Group has completed 271 projects with a total developable area of 151 million square feet and currently has 48 ongoing projects across segments with a total developable area of 75 million square feet.
- Prestige Group is planning to undertake 51 new projects across 84 million square feet and currently holds a land bank of over 375 acres.
- This acquisition will allow Prestige Group to strengthen its position in the commercial real estate space in Bengaluru, Karnataka, and is another milestone in its expansion strategy through acquiring stakes in strategic properties.
Key Points of Prestige Estates Acquired Stake in Dashanya Tech:
Prestige Estates Projects Ltd, a realty firm, announced on Tuesday that its subsidiary, Prestige Exora Business Parks Ltd, has successfully acquired a 51 percent stake in Dashanya Tech Parkz Private Ltd for a sum of Rs 66 crore. The deal was finalized by April 17, 2023.
Dashanya Tech Parkz is a Bengaluru-based company that specializes in the development and construction of commercial office space. According to the exchange filing, the company has been in business since March 15, 2012. Its turnover for the fiscal year ended March 31, 2022, stood at Rs 2,451 million, while it was Rs 18.59 million and Rs 4.93 million for March 31, 2021, and March 31, 2020, respectively.
Prestige Group, known as one of the leading real estate developers in India, has a diversified business model that covers residential, office, retail, hospitality, property management, and warehouses. The company operates in more than 12 major locations across the country and has completed 271 projects with a total developable area of 151 million square feet. Presently, the company has 48 ongoing projects across segments, with a total developable area of 75 million square feet. As of June 2022, Prestige Group is planning to undertake 51 new projects that will span across 84 million square feet, and it currently holds a land bank of over 375 acres.
This acquisition is yet another milestone for Prestige Group, which has been expanding its portfolio by acquiring stakes in strategic properties. By acquiring Dashanya Tech Parkz, the company will be able to further strengthen its position in the commercial real estate space in Bengaluru, Karnataka.
About Prestige Estates:
Prestige Estate Projects operates in the real estate development industry, which involves constructing properties, developing real estate, and leasing office and retail spaces.
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