Realty firm Prestige Estates Projects Ltd on Tuesday said its wholly owned subsidiary Prestige Exora Business Parks Ltd has acquired a 51 percent stake in Dashanya Tech Parkz Private Ltd for Rs 66 crore.
According to the exchange filing, Dashanya Tech Parkz is engaged in the business of the development and construction of commercial office space. It was incorporated on March 15, 2012, and is developing commercial office space in Bengaluru, Karnataka.
The turnover of Dashanya Tech Parkz Private Ltd for the year ended March 31, 2022, stood at Rs 2,451 million; March 31, 2021, stood at Rs 18.59 million, and March 31, 2020, stood at Rs 4.93 million.
The acquisition was completed by April 17, 2023, it said.
Prestige Group, one of the leading real estate developers in the country, has a diversified business model across various segments — residential, office, retail, hospitality, property management, and warehouses, with operations in more than 12 major locations in India.
It has completed 271 projects spanning a developable area of 151 million square feet and 48 ongoing projects across segments, with a total developable area of 75 million square feet. Further, it is planning 51 projects spanning 84 million square feet and holds a land bank of over 375 acres as of June 2022.
(Edited by : Pradeep John)
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