Prestige, Arihant to jointly develop real estate projects in Chennai
Prestige Estates Projects Ltd, the Bengaluru-based real estate developer, has entered into a framework agreement with Chennai-based Arihant Foundations & Housing Ltd to collaborate and jointly develop real estate projects in Chennai.
The two companies will explore opportunities across various real estate segments, including residential, commercial, retail, and hospitality developments.
The projects will be undertaken on a joint venture basis, with both parties bringing their respective expertise, strengths, brand value, and market knowledge to deliver high-quality developments that cater to the evolving needs of the Chennai market, the companies said in a release.
Each identified project will be governed by separate definitive agreements, which will outline the terms of the joint development and will be executed as and when specific opportunities are finalised.
This collaboration aligns with Prestige Group’s strategic growth plans to expand its presence in key cities across India by leveraging synergistic partnerships to create long-term value, the release said.
On the BSE, Prestige’s share price closed at ₹1,282.35, down ₹29.45 (–2.25 per cent), while Arihant’s share price closed at ₹810.60, up ₹32.20 (+4.14 per cent).
Published on May 9, 2025
