Prestige Estates Plans Four Separate Listings As Hospitality Portfolio Targets 5,500 Keys
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Prestige Estates is planning separate listings for its residential, office, retail and hospitality businesses. Its hotel portfolio is also being expanded from around 1,450 keys to nearly 5,500.
Prestige Estates is looking at separating its residential, office, retail and hospitality businesses into four listed entities. Chairman and Managing Director Irfan Razack said the move would allow each business to operate and be valued independently.
The company currently operates multiple business verticals under the same group structure. The proposed separation is aimed at giving each one its own corporate identity as the businesses expand.
How Is Prestige Expanding Its Hospitality Business?
Hospitality is a key part of the restructuring plan. Prestige currently operates around 1,450 hotel keys and is building a pipeline that could take the portfolio to nearly 5,500 keys. The company said demand across its hotel properties is supporting the expansion.
The hospitality business recently secured a ₹3,000 crore investment from Canada's CPP Investment Board for a 28% stake in Prestige Hospitality Ventures. Razack said the investment would provide additional capital for expansion without requiring further dilution at the group level.
However, Prestige does not plan to list the hospitality business immediately. The business is likely to be spun off and listed once its asset base matures further.
What Are The Plans For Prestige's Office And Retail Businesses?
Prestige is also preparing its office and retail businesses for a separate structure, and FY30 could be a key milestone as projects currently under construction mature. The company's office portfolio is projected to reach an annual rental exit run-rate of about ₹2,800 crore by then, while its retail malls are expected to contribute close to ₹2,000 crore.
The proposed structure would leave the group with four separately listed businesses covering residential, office, retail and hospitality assets.
The proposed separation is expected to be an important development for the listed entity as it works towards independently structuring its four business verticals. Prestige Estates shares were trading at ₹1,591.9 at the close of the day on 17 August 2026 on the National Stock Exchange.
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