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Prestige Estates' Hotel Arm Secures Rs 3,000 Crore from CPP Investments for Expansion
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Moneycontrol•30-09-2026, 10:03
Prestige Estates' Hotel Arm Secures Rs 3,000 Crore from CPP Investments for Expansion
- •Prestige Estates' hospitality arm, Prestige Hospitality Ventures Ltd (PHVL), raised Rs 3,000 crore from Canada Pension Plan Investment Board (CPPIB).
- •CPPIB acquired a 27% stake in PHVL through this investment, marking its first direct investment in India's hospitality sector.
- •The majority of the capital will support PHVL's continued expansion, which includes developing hotels in key Indian cities like Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai.
- •Prestige Estates had previously shelved plans for an initial public offering of PHVL due to uncertain market conditions.
- •Irfan Razack, Chairman and Managing Director of Prestige Group, emphasized hospitality as a crucial part of Prestige's long-term growth strategy.
