Prestige Estates issues ₹550 crore corporate guarantee for subsidiary
pre-market1 source ↓written by the desknot a recommendation
- to secure
- ₹550 crores
Prestige Estates Projects Limited has issued a corporate guarantee of up to ₹550 crores to secure a term loan for its wholly owned subsidiary, Prestige Falcon Malls Private Limited, from DBS Bank India Limited. This guarantee represents a contingent liability, which may impact Prestige Estates' financial position if the subsidiary defaults.
The move underscores the company's commitment to supporting its subsidiary's growth in the competitive real estate sector.
Not investment advice. For informational purposes only.