Piramal Enterprises subsidiary acquires PRL Agastya at Rs90 crore

14 Dec 2022 , 09:16 AM

Piramal Enterprises Ltd has informed that Piramal Capital & Housing Finance Limited (‘PCHFL’), a wholly owned subsidiary of the Company has acquired 100% stake in PRL Agastya Private Limited consequent to which, PRL Agastya is a wholly owned subsidiary of PCHFL.

According to the regulatory filing, PRL Agastya is engaged in the business of construction and development of real estate projects.

Currently, PRL Agastya owns developed commercial building of ~7.44 lakh square feet of leasable area along with development potential of further up to ~70k square feet of leasable area. PRL Agastya had total revenue of Rs3,139.01 lakhs for the year ended March 31, 2022.

Cost of acquisition is Rs90 crore, the Company mentioned in a filing on Tuesday.

On Wednesday early morning trade, Piramal Enterprises Ltd is currently trading at Rs862 per share up by Rs4 or 0.47% from its previous closing of Rs858 per share on the BSE.

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