Prestige Estates Projects Limited Incorporates Southgrove Homes and Parkgrove Realty as Wholly-Owned Subsidiaries
Prestige Estates Projects Limited has established two new Wholly-Owned Subsidiaries, Southgrove Homes LLP and Parkgrove Realty LLP, effective September 9, 2026. Both entities were incorporated to focus on the business of real estate development in India.The incorporation of these subsidiaries marks a strategic expansion in the real estate development sector. Both Southgrove Homes LLP and Parkgrove Realty LLP were established under the Limited Liability Partnership Act, 2008.
The companies are wholly owned by Prestige Estates Projects Limited and are regarded as a related party transaction. The Promoter and the Promoter Group have no interest in the transactions related to the acquisition of these entities.
While both entities share the same purpose and structure, providing a snapshot of the incorporation details highlights the commitment to the real estate market.
Subsidiary Incorporation Details
The incorporation details for both Southgrove Homes LLP and Parkgrove Realty LLP are summarized below:| Detail | Southgrove Homes LLP | Parkgrove Realty LLP |
|---|---|---|
| Date of Incorporation | September 9, 2026 | September 9, 2026 |
| Core Business | Real Estate Development | Real Estate Development |
| Legal Structure | Limited Liability Partnership | Limited Liability Partnership |
| Turnover History | Not Applicable (Yet to commence operations) | Not Applicable (Yet to commence operations) |
| Registration Status | Incorporated in India | Incorporated in India |
Financial and Structural Contribution
The foundation of both new subsidiaries includes a specific financial commitment from the parent company.Both Southgrove Homes LLP and Parkgrove Realty LLP were incorporated with a 100% stake held by the parent company. The consideration for 100% of the Partnership Interest in both entities was set at INR 1,00,000/-. This amount represents the total contribution from the partners, with the Company contributing INR 1,00,000/-.
Both entities are currently operating with a full focus on the real estate development industry and are yet to commence their business operations.
PRESTIGE Stock Price Movement
As of 11:57 AM, shares of Prestige Estates Projects Limited are slipping by 0.33% in live trading, with the stock currently valued at ₹1535.3. The stock has seen 133,577 shares traded, reflecting its movement within the day's range.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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