Prestige & Arihant Join Forces to Unlock Chennai Real Estate Potential

Bengaluru-headquartered Prestige Estates Projects Ltd has reportedly signed a framework agreement with Chennai-based Arihant Foundations & Housing Ltd to jointly develop real estate ventures in the Tamil Nadu capital.

Partnership to Span Multiple Real Estate Segments

The two developers have stated that they will explore opportunities across diverse real estate categories, including residential, commercial, retail, and hospitality. The intent is to leverage their combined expertise and regional strengths to launch quality projects that align with Chennai's evolving demand.

Joint Venture Model for Each Development

Projects under this alliance are expected to follow a joint venture (JV) structure. Each project will be governed by its own definitive agreement, outlining terms of development, and will be executed once opportunities are finalised, according to the companies' joint release.

Strategic Fit for Prestige’s National Growth Vision

The partnership is said to be in sync with Prestige Group’s broader strategy of expanding its footprint in key Indian cities by forming synergistic collaborations that enhance long-term value creation. The company appears to be adopting a partnership-led model to scale up more rapidly in regional growth markets like Chennai.

Market Reaction

On the BSE, Prestige’s shares closed at ₹1,282.35, marking a dip of ₹29.45 (–2.25%). In contrast, Arihant saw a surge in its share value, ending the day at ₹810.60—an increase of ₹32.20 (+4.14%).

Disclaimer: This news article is based on official statements and publicly available data. It is intended for informational purposes only and does not constitute investment advice.