Prestige Estates Acquires Stake In DB Realty’s Mumbai Project

 

The Prestige Falcon Realty Ventures, a wholly-owned subsidiary of Prestige Estates Projects Ltd has bought 28.99% stake in DB Realty’s project in Mumbai. In a regulatory filing, DB Realty announced about Prestige Falcon Realty Ventures acquiring 1,32,854 equity shares representing 28.99% of the equity share capital of DB (BKC) Realtors from Trinity Capital (Ten) Ltd.

In October, Prestige Estates Projects Ltd also announced a joint venture with DB Group to develop a large hotel and convention centre project at Aero City in Delhi, with an investment of Rs. 2,000 crore. DB Group had acquired the development rights on the 7.70 acre land parcel in 2009 from Delhi International Airport Ltd (DIAL).