Prestige Estates Shares Gain 2.22% After ₹504-Crore Advent Hotels Stake Buy

Bengaluru, July 6: Prestige Estates Projects Ltd (NSE: PRESTIGE) share price was trading up ₹37.00 or 2.22% at ₹1,705.00 at about 3:30 pm on Monday’s intra-day session, with an indicative close at ₹1,705.20 on news that the company had bought a ₹504-crore stake in Mumbai commercial property.

PRESTIGE opened at ₹1,683.00, reached an intra-day high of ₹1,718.50, and a low of ₹1,666.90. During Monday’s trading session, the stock’s volume weighted average price (VWAP) was ₹1,695.95, higher than its previous close of ₹1,668.00. See the PRESTIGE intraday chart below.

The order book on PRESTIGE shares is mildly favouring the sellers on Monday with 63.35% of total orders or 75,604 shares available to sell and buy-side volume making up 36.65% or 43,748 shares. The current bid price range is ₹1,705.70 to ₹1,706.50 while the ask is ₹1,707.60 to ₹1,708.00.

Weekly Trend

The PRESTIGE weekly chart shows the stock opened around ₹1,530.00 on June 29 before trending mostly higher through the week, breaking through ₹1,620.00 on July 1 and ₹1,660.00 on July 2, and stabilising around ₹1,704.40 going into Monday’s trading session with an indicative weekly close of ₹1,705.10. Adding more than ₹170 to the share price in just five sessions, PRESTIGE is on pace for one of its smoother weekly rallies in recent trading periods.

Prestige Estates Buys 50% Stake in Advent Hotels For ₹504 Crore

Indian realty company Prestige Estates Projects Ltd has picked up a 50 per cent stake in Advent Convention and Hotels International Ltd (ACHIL) for ₹504 crore as it bolsters its presence in commercial real estate.

The Bengaluru-headquartered builder entered into an investment pact with Advent Hotels, which is currently developing a commercial project in Mumbai, in a June 30 filing.

The partnership between Prestige Estates and ACHIL is for the joint development of a commercial project located on 21,978.22 sq m of land in Andheri East area of Mumbai. “The project comprises total leasable area of 1.50 million sq ft and is estimated to have a gross development value (GDV) of ₹4,500 crore,” Prestige Estates said in its filing.

The deal brings another trophy office asset under the commercial portfolio of Prestige, which has been growing its presence in Mumbai Metropolitan Region steadily over the last few years via outright acquisitions and joint developments. Analysts tracking the commercial real estate sector have highlighted Mumbai’s office and commercial leasing markets as two of the top performing sub-segments in the country, supported by consistent demand from IT, BFSI and multinational companies.

Over the last few quarters, Prestige Estates has bought multiple residential and commercial properties as well as hotels to strengthen its portfolio across India. It has been focussing on key cities like Bengaluru, Mumbai, Hyderabad and National Capital Region for its developments. The ₹504-crore deal will allow Prestige Estates strengthen its position in Mumbai’s western commercial belt and complement its office and retail assets there.

Source: NSE quote data; Prestige Estates Projects Ltd filing dated July 3, 2026

(With inputs from PTI)