Prestige Estates Projects Limited’s board has approved the issuance of non-convertible debentures worth up to ₹2,000 crore on a private placement basis, subject to shareholder approval. The decision was made at a board meeting held on May 21, 2026.
The company has also recommended a final dividend of 20 per cent (₹2 per share) for the financial year ended March 31, 2026, contingent on approval by shareholders at the company’s 29th Annual General Meeting.
The board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The auditors issued an unmodified opinion on the financial statements, indicating they present a true and fair view of the company’s financial position in accordance with applicable accounting standards and principles generally accepted in India.
In a separate corporate governance development, the board redesignated Ms. Uzma Irfan (DIN: 01216604) as Whole-Time Director for a five-year term effective from May 21, 2026, through May 20, 2031, subject to shareholder approval. Ms. Irfan holds a Bachelor of Business Administration (honours) degree and a Bachelor of Arts degree from the UK. She has gained corporate communications experience and currently serves as Director of Corporate Communications at the Prestige Group. Ms. Irfan is related to Mr. Irfan Razack (Chairman and Managing Director), Mr. Rezwan Razack (Joint Managing Director), and Mr. Noaman Razack (Whole-Time Director). She is not debarred from holding directorial office by any SEBI order or similar authority.
The auditors noted certain ongoing legal proceedings related to real estate projects and income tax search matters in the financial statements. This matter did not affect the auditors’ opinion on the financial results.
The board meeting commenced at 3:45 p.m. and concluded at 9:00 p.m.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).