Prestige Estates buys 50% stake in Advent Convention and Hotels International for Rs 504 crore

Prestige Estates Projects Ltd is set to enhance its market presence by securing a 50% stake in Advent Convention and Hotels International Ltd for Rs 504 crore. This deliberate acquisition will pave the way for a major commercial development in Mumbai's Andheri East, featuring 1.50 million sq ft of leasable area and a total development worth Rs 4,500 crore. This investment reflects Prestige's ambitious growth plans.

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