Ramco Cements has completed the sale of non-core land assets to Prestige Estates Projects Ltd for INR 515 crore, enabling the cement manufacturer to unlock capital from surplus holdings and focus resources on core business operations and expansion.

Prestige Group has reportedly acquired a 25-acre land parcel in Chennai's Medavakkam locality, planning to develop a large-scale residential township with an estimated revenue potential exceeding ₹5,000 crore and approximately 5 million sq ft of developable area.

KVN Properties, led by ex-Prestige Estates CEO Venkat K Narayana, is in talks with Kotak Realty Fund to raise ₹1,000 crore via debentures for land acquisition and development expansion across India.

Prestige Estates Projects, a prominent real estate developer, disclosed its intention to allocate the ₹5,000 crore it raised through a Qualified Institutional Placement (QIP) earlier this month.

Prestige Estates Projects' subsidiary Prestige Exora Business Parks purchased its partner's land parcel and development rights in Pune's desirable Kharadi neighbourhood. Land of about 4.5 acres was acquired for approximately ₹200 crore.