Prestige Estates Projects shares jump 3% as CCPIB invests ₹3,000 crore in hospitality unit

According to a regulatory filing, with the investment, CPPIB will acquire approximately a 27% stake in Prestige Hospitality Ventures Limited (PHVL).

The majority of the capital would be used for continued expansion of the platform, the firm further stated. PHVL owns and operates a portfolio of luxury and premium hotels in key cities across India.

Recently, Prestige Estates shelved plans to launch an IPO of PHVL due to uncertain market conditions and some other factors.

Commenting on the transaction, Irfan Razack, Chairman and Managing Director, Prestige Group said, “Hospitality is an important part of Prestige’s long-term growth strategy, and we see significant opportunity to build a scaled, high-quality portfolio across India. We are pleased to welcome CPP Investments as a long-term partner in Prestige Hospitality Ventures.”

Razack further stated that CCPIB’s long-term investment approach complements Prestige’s development capabilities and market understanding, adding that “together we look forward to creating a hospitality platform of scale while delivering distinctive experiences for our guests and long-term value for our stakeholders”.

Prestige Estates Projects stock performance

At around 11:37 AM, shares of Prestige Estates Projects were trading 2.98% higher at ₹1,459.70 apiece.

The scrip has declined 2% in the past week and 11% over the month. On a year-to-date (YTD) basis, it has fallen 9%.

While the stock hit a 52-week high of ₹1,805.20 per equity share on November 3, 2025, it touched a year’s low of ₹1,090 per unit on April 2, 2026.

Prestige Estates Projects has a total market capitalisation of ₹62,929.69 crore as of September 30, 2026, according to data on the NSE.