Prestige Estates Projects gains 4% after buying majority stake in Dashanya Tech Parkz

The share touched a 52-week high of Rs 511.30 and a 52-week low of Rs 375.00 on 05 December, 2022 and 05 July, 2022, respectively.

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The Prestige Estates Projects share price added 4 percent in the early trade on April 19 after the company acquired a 51 percent stake in the construction company.

Prestige Estates Projects, through its wholly owned subsidiary Prestige Exora Business Parks Limited, has acquired 51 percent shares in Dashanya Tech Parkz Private Limited.

Dashanya Tech Parkz is engaged in the business of development and construction of commercial office space. It recorded a turnover of Rs 2,45.1 crore for the year ended March 31, 2022.

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The company has acquired 7,65,000 equity shares of Dashanya Tech Parkz with an acquisition cost of Rs 66.07 crore.

At 9:20am, Prestige Estates Projects was quoting at Rs 450.70, up Rs 12.45, or 2.84 percent on the BSE.

The share touched a 52-week high of Rs 511.30 and a 52-week low of Rs 375.00 on December 5, 2022 and July 5, 2022, respectively. it is trading 11.85 percent below its 52-week high and 20.19 percent above its 52-week low.