Prestige Estates Projects Limited has announced the issuance of a corporate guarantee for a Term Loan Facility amounting up to ₹300 Crore. This guarantee is being provided to secure the loan being availed by Bharatnagar Buildcon LLP, a subsidiary of the company. The transaction was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The promoter and promoter group do not have any interest in this transaction, and the corporate guarantee has been provided by Prestige Estates Projects Limited on an arm's length basis, complying with the Companies Act, 2013, and SEBI Listing Regulations. The guarantee is for a facility up to ₹300 Crore from Canara Bank. The company stated that this corporate guarantee represents a contingent liability and is provided on behalf of a subsidiary that is part of the consolidated group. Currently, there is no impact on the company from this guarantee.
