Prestige Estates Projects Limited has executed a reconstituted Limited Liability Partnership Deed for the admission of a new partner into Stellar Envision LLP. Stellar Envision LLP was previously a wholly owned subsidiary of Prestige Estates. The reconstitution was completed on June 19, 2026, diluting Prestige Estates' partnership interest from 100 percent to 50 percent.
Following the reconstitution, Prestige Estates' partnership interest in Stellar Envision LLP now stands at 50 percent. The LLP is proposed to undertake real estate projects in Bangalore.
Stellar Envision LLP reported nil other income as of March 31, 2026. The net worth of the LLP was Rs 0.01 crore as of that date. Prestige Estates received total consideration of Rs 0.005 crore for the dilution of its partnership interest in the LLP. The agreement for the transaction was entered into and completed on the same date, June 19, 2026.
The new partner admitted into the LLP is engaged in the real estate business and does not belong to the promoter, promoter group, or group companies of Prestige Estates. Prestige Estates confirmed that the transaction is not a related party transaction.
Prestige Estates disclosed the information to the National Stock Exchange of India and BSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The disclosure includes the consideration amount, the financial position of the subsidiary, and the relationship of the incoming partner with Prestige Estates. The filing was signed by Irfan Razack, Chairman and Managing Director of Prestige Estates.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.