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Nirmal Bang: Prestige Estates Projects - Blackstone Group To Acquire Partial Annuity Assets 

Nirmal Bang: Prestige Estates Projects - Blackstone Group To Acquire Partial Annuity Assets

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

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Nirmal Bang Report

As per disclosures made by the company, the Blackstone group will buy Prestige Estates Projects Ltd.’s rental income assets for Rs 91,600 million.

The transaction involves ready, income-producing and under-construction properties in key cities of India, including Bengaluru, Chennai, Hyderabad, Ahmedabad, Kochi, Mangalore, Udaipur and Mysore.

The company had debt of Rs 93,165 million and cash balance of Rs 9,508 million as on FY20.

Hence, the net debt as of FY20 stood at Rs 83,657 million.

Click on the attachment to read the full report:

Nirmal Bang Prestige Estates Projects Limited-Company Update-11 November 2020.pdf

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