Prestige Estates issues corporate guarantee for subsidiary's loan facility

Prestige Estates Projects (BSE: 533274) announced today that it is providing a corporate guarantee to support a loan facility being availed by its wholly-owned subsidiary, Prestige Hospitality Ventures Limited. The guarantee is for a loan facility from Axis Bank Limited, up to a value of INR 175 Crores. Prestige Estates clarified that this guarantee is a contingent liability and provided on an arm's length basis, in compliance with applicable regulations, with no immediate impact on the company. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.