Prestige Estates Projects Limited announced the issuance of a Corporate Guarantee to support a Term Loan Facility being secured by its joint venture entity, Canopy Living LLP. The guarantee, provided on an arm’s length basis, covers a facility amount up to INR 400 Crores extended by Aditya Birla Capital Limited. The company confirmed that this contingent liability currently has no immediate impact on the listed entity as it relates to a consolidation group member.
Corporate Guarantee Disclosure
Prestige Estates Projects Limited formally notified the stock exchanges on March 9, 2026, regarding the provision of a Corporate Guarantee. This action is intended to support a Term Loan Facility being secured by Canopy Living LLP, which operates as a joint venture of the Company.
Details of the Transaction
The guarantee is being provided in favor of the borrower, Canopy Living LLP, for its Term Loan Facility. The principal financier for this facility is Aditya Birla Capital Limited.
The key financial detail disclosed is the maximum amount covered by the guarantee, which stands Up to INR 400 Crores.
Conflict of Interest Assessment
The Company explicitly stated that neither the promoter nor the promoter group holds any interest in this specific transaction. Furthermore, the corporate guarantee has been provided on an arm’s length basis, ensuring compliance with relevant corporate regulations.
Impact on Listed Entity
The document clarifies that this guarantee represents a contingent liability for Prestige Estates Projects Limited. Since the guarantee is executed on behalf of a joint venture entity that forms part of the consolidated group, the management confirms that there is currently no direct impact of this guarantee on the listed entity at this point in time.
Source: BSE
