Prestige Estates Projects Ltd

AGM details

• AGM held physically on August 20, 2026.
• Voting eligibility cut-off was August 13, 2026.
• Attendees: 147 members present in person.
• Scrutinizer's report dated August 21, 2026 submitted.
• Results published on company and depository websites.

Key resolutions

• Resolution 1: Ordinary - adoption of standalone financial statements for the year ended 2026.
• Resolution 2: Ordinary - adoption of consolidated financial statements for the year ended 2026.
• Resolution 3: Ordinary - declaration of final dividend of Rs 2 per equity share.
• Resolution 4: Ordinary - re-appointment by rotation of a director.
• Resolution 5: Ordinary - ratification of remuneration to Cost Auditor for FY 2026-27.
• Resolution 6: Special - redesignation of Uzma Irfan as Whole-Time Director.
• Resolution 7: Special - issue of non-convertible debentures on private placement.

Voting results

• Resolution 1 passed with 99.58% in favour.
• Resolution 2 passed with 99.58% in favour.
• Resolution 3 passed with 99.99% in favour.
• Resolution 4 passed with 99.13% in favour.
• Resolution 5 passed with 99.99% in favour.
• Resolution 6 passed with 99.41% in favour.
• Resolution 7 passed with 99.99% in favour.

Dividend

• Final dividend of Rs 2 per fully paid equity share approved.

Director changes

• Uzma Irfan redesignated as Whole-Time Director.

Auditors

• Remuneration for Cost Auditor ratified for FY 2026-27.
• No change in statutory auditors disclosed.

AGM Details

• Date: August 20, 2026.
• Time: 11:30 A.M. IST.
• Mode: Physical AGM with electronic voting facility.
• Attendance: 147 members present.
• Concluded: 01:00 P.M. IST.

Resolutions Put to Vote

• Resolution 1 (Ordinary): Adopt standalone financial statements for FY2026.
• Resolution 2 (Ordinary): Adopt consolidated financial statements for FY2026.
• Resolution 3 (Ordinary): Declare final dividend of ₹2 per share for FY2025-26.
• Resolution 4 (Ordinary): Re-appoint Uzma Irfan, Director, retiring by rotation.
• Resolution 5 (Special): Ratify remuneration to Cost Auditor for FY2026-27.
• Resolution 6 (Special): Approve re-designation of Uzma Irfan as Whole-time Director.
• Resolution 7 (Special): Issue of Non-Convertible Debentures on private placement.

Dividend

• Final dividend of ₹2 per share for FY2025-26.

Director Changes

• Uzma Irfan reappointed as Director; redesignated as Whole-time Director.

Auditors & Compliance

• Auditors attended; no new auditor appointments disclosed.

Financing/Capital Actions

• Issue of Non-Convertible Debentures on private placement.

Voting & Results

• Voting results to be announced within 2 working days.
• Results to be uploaded on company website and stock exchanges.

Parties

• Prestige Estates Projects Limited; CPPIB; Prestige Hospitality Ventures Limited (PHVL), a wholly owned Prestige subsidiary.

Purpose

• Binding Framework Agreement to enable CPPIB to invest in PHVL for up to 28% stake.

Key terms

• Investment up to INR 3,000 crore in PHVL, up to 28% stake.
• Financing via primary and secondary investments; subject to due diligence and definitive documents.
• Binding Framework Agreement executed August 10, 2026; completion conditioned on prerequisites.

Related party status

• CPPIB is not related to Prestige promoters/group, and the transaction is not an RPT.

Impact

• CPPIB investment could lead to up to 28% stake in PHVL, altering PHVL's ownership dynamics.

Regulatory/Approvals

• Regulatory and lender approvals required; due diligence and definitive documents to be executed.

Rating action and agency

• Rating agency: ICRA Limited.
• Long-term fund-based term loan: A+ (Stable); reaffirmed.
• Long-term non-fund-based limits: A+ (Stable); reaffirmed.
• Long-term fund-based limits: A+ (Stable); reaffirmed.
• Long-term unallocated limits: A+ (Stable); reaffirmed.
• Commercial paper: A1; reaffirmed/assigned for enhanced amount.

Overview

• Real estate development and sale of residential and commercial projects.
• Consolidated BRSR reporting for FY2025-26 within the Integrated Annual Report.
• Main activity accounts for 90.43% of total turnover.
• Reporting boundary: Consolidated basis unless specified.
• Independent assurance on BRSR Core indicators by Vinay and Keshava LLP.
• FY period: 1 April 2025 to 31 March 2026.

Key ESG Risks & Opportunities

• GHG emissions risk; mitigated via energy efficiency, on-site solar, and renewable procurement.
• Climate change risk; addressed through sustainable design and renewable energy deployment.
• Water management risk; mitigations include smart irrigation, STPs, and rainwater harvesting.
• Waste management risk; circular economy, waste segregation, and battery buybacks.
• Human rights & labour risk; strong grievance mechanisms and POSH compliance.
• Data privacy and cybersecurity risk; ISMS aligned to ISO 27001 with cloud controls.
• Corporate governance risk; robust audits and independent oversight.
• Community engagement risk/opportunity; CSR investments and local procurement.
• Ethical business conduct risk; anti-fraud and transparency policies.
• Diversity and inclusion opportunity; governance/workforce diversity improvements.
• Sustainable sourcing: 70.5% inputs sourced sustainably.
• ESG self-assessment of vendors: 64% of key vendors assessed for ESG.

Governance & Policy Highlights

• ESG Committee oversees BRSR; board reviews materiality and approves ESG policies.
• Board-approved policies cover anti-bribery, whistleblower, human rights, POSH.
• Policy scope includes due diligence, internal controls, and risk management.
• No material fines or penalties in FY2025-26.
• BRSR Core indicators subject to reasonable assurance by Vinay and Keshava LLP.
• Policy link: pepl-policies on Prestige website.
• External policy reviews conducted by Intertek for several principles.

Social Responsibility & Workforce

• Total employees: 11,652; permanent 11,092; female 2,357 (20.23%).
• Board gender diversity: 2 of 8 directors are female (25%).
• Turnover: permanent male 32.63%, female 28.21%.
• Well-being spend: 0.15% of revenue; health insurance coverage 99.59% of permanent staff.
• OHS management: ISO 45001 aligned; LTIFR 0; no fatalities.
• Grievance mechanisms include whistleblower and POSH; accessible to all workers.
• Accessibility: premises accessible to differently abled; compliant with disabilities act.
• 100% employees trained on human rights; extensive health/safety and skills training.
• Parental leave: return-to-work rate 91.5% for permanent staff.

Environmental Performance

• Total energy: 752,723 GJ; renewables contribute about 35% of energy use.
• Scope 1 emissions: 8,865 tCO2e; Scope 2 emissions: 75,782 tCO2e.
• Waste generated: total 4,736 MT; 2,545 MT recycled; 2,191 MT disposed.
• Water withdrawal: 708,814 KL; third-party water the primary source.
• Zero Liquid Discharge implemented; STPs enable on-site wastewater reuse.
• Certifications: ISO 14001, ISO 45001, LEED/IGBC, WELL, GRESB.
• PAT DCs: some hotels designated; energy efficiency initiatives monitored.
• LCA studies conducted for three properties; cradle-to-gate with construction.

Stakeholder Engagement & Complaints

• Stakeholders: employees, board, vendors, regulators, communities, customers, investors, media.
• Engagement channels: email, meetings, website, notices; frequency: regular.
• Customer complaints: 1,325 filed in FY2025-26; 4 pending at year-end.
• Shareholder complaints: 1 filed in FY2024-25; 0 pending.
• GRIEVANCE mechanisms include HR grievance, whistleblower, POSH; ESG oversight by the committee.
• Data privacy: 0 data breaches; ISMS and cybersecurity measures in place.

Other Notable Metrics

• Related party transactions: purchases 1.18%, sales 2.68%, loans 85.93%, investments 20.69%.
• Sustainable sourcing: 70.50% inputs sourced sustainably.
• LCA: conducted for three properties; external consultant involvement; public link in ESG docs.
• ESG training: board/management training with high coverage across governance topics.
• CSR spend: CSR turnover ₹40,804 mn; net worth ₹119,652 mn; consolidated revenue used for intensity metrics.

• Revenue ₹131,955 mn, up 70.6% YoY.
• EBITDA ₹42,192 mn; margin 31.97%.
• PAT ₹13,054 mn; up 111.6%.
• Highest-ever sales ₹300,245 mn.
• Collections ₹185,146 mn.
• Proposed dividend ₹2.00 per share.
• Net debt ₹109,146 mn.
• Cash and cash equivalents ₹15,560 mn.
• Retail occupancy ~99%.
• FY26 launches: 31.84 mn sft.

AGM details

• AGM scheduled for 20 August 2026 at 11:30 AM at the registered office Bengaluru.
• Mode: Physical meeting; e-voting from 17 to 19 August 2026.
• Record/date entitlement cut-off for dividend: 13 August 2026.

Dividend proposal

• Final dividend of ₹2.00 per equity share proposed; subject to AGM approval.
• Dividend payment expected within 30 days of AGM after tax deduction.

Resolutions put to vote

• Ordinary: adopt standalone financial statements for FY 2026.
• Ordinary: adopt consolidated financial statements for FY 2026.
• Ordinary: declare final dividend of ₹2 per share.
• Ordinary: re-appoint Uzma Irfan who retires by rotation.
• Special: ratify remuneration of Cost Auditor for FY 2026-27 (₹200,000).
• Special: approve re-designation of Uzma Irfan as Whole-time Director for five years.
• Special: enable private placement of non-convertible debentures up to ₹20,000 million.

Director changes

• Uzma Irfan to be redesignated as Whole-time Director for five years (May 21, 2026–May 20, 2031).

Auditors

• Cost Auditor remuneration of ₹200,000 for FY 2026-27; remuneration to be ratified.

Guarantee for subsidiary loan

• Issuance of corporate guarantee for loan availed by Prestige Alta Vista Properties LLP.
• Lender Axis Bank Limited; facility up to INR 370 crores.
• Promoter group has no interest; guarantee provided on arm's length basis.
• Contingent liability for Prestige Estates; no immediate impact on the company.