Piramal Capital acquires 100% stake in PRL Agastya for Rs 90 cr

Piramal Capital acquires 100% stake in PRL Agastya for Rs 90 cr

According to the exchange filing the objective of the acquisition is to acquire office building and development potential for further space.

FPJ Web DeskUpdated: Wednesday, December 14, 2022, 03:08 PM IST
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Piramal Capital acquires 100% stake in PRL Agastya for Rs 90 cr | Image credit: Piramal (Representative)

Piramal Capital and Housing Finance Limited, a wholly-owned subsidiary of Piramal Enterprises Limited, has acquired 100 per cent stake for Rs 90 crore in PRL Agastya Pvt Ltd, the company said in an exchange filing.

PRL Agastya is in the business of construction and development of real estate projects. The company currently owns a developed commercial building of 7.44 lakh square feet of leasable area.

According to the exchange filing, the objective of the acquisition is to acquire an office building with development potential for further space.

The realty company had a total revenue of Rs 3,139 lakhs for the year ended March 31, 2022.

The shares of Piramal Enterprises closed 0.1% higher at Rs 858.75 on Tuesday.

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