+086 1911-7288-062 [ CN ]
Cookies give you a personalized experience,Сookie files help us to enhance your experience using our website, simplify navigation, keep our website safe and assist in our marketing efforts. By clicking "Accept", you agree to the storing of cookies on your device for these purposes.For more information, review our Cookies Policy.
Share:
Realty firm Prestige Estates Projects Ltd on Tuesday said its hospitality arm has raised Rs 3,000 crore from Canada Pension Plan Investment Board (CPPIB) by diluting a 27 per cent stake.
In August this year, Prestige Estates had announced that Canada-based investment firm CPPIB will invest up to Rs 3,000 crore in its hospitality arm. The company, CPPIB, and Prestige Hospitality Ventures Ltd (PHVL) executed a binding framework agreement.
In a regulatory filing on Tuesday, Prestige Estates informed that the CPPIB has invested Rs 3,000 crore (Canadian dollars 441 million) in PHVL. Through the investment, the CPPIB would acquire about a 27 per cent stake in PHVL.
Recently, Prestige Estates shelved plans to launch an initial general offering of PHVL because of uncertain market conditions and some other factors.
The majority of the capital would support the platform’s continued expansion, Prestige Estates said. This marks CPP Investments’ first direct investment in India’s hospitality sector.
PHVL owns a portfolio of luxury and premium hotels in key cities across India. It is developing many hotels in Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai.
Irfan Razack, Chairman and Managing Director, Prestige Group said, “Hospitality is an crucial part of Prestige’s prolonged development strategy, and we see significant opportunity to build a scaled, high-condition portfolio across India.”
“Their prolonged investment approach complements our research capabilities and market understanding and together we look forward to creating a hospitality platform of scale while delivering distinctive experiences to our guests and prolonged value to our stakeholders,” Razack said.
The CPPIB is a professional investment regulation organisation that manages the Canada Pension Plan Fund in the best interest of the greater than 22 million contributors and beneficiaries.
As of June 30, 2026, the Fund totalled Canadian dollars 863.6 billion. Prestige Estates is one of the country’s leading real estate firms.
Published on September 29, 2026
We will contact you soon
888CHEM
Japanese 
Korean 
Hindi 
Russian 
Arabic 
Malay 
