Prestige Group to raise Rs.2,001-Cr from ADIA, Kotak AIF

Bangalore-based real estate developer Prestige Group (whose flagship entity is the publicly listed Prestige Estates Projects Limited) is to raise INR 2,001 crore (USD 240 million) from the Abu Dhabi Investment Authority (ADIA) and Kotak AIF.The new funds will be used towards development of residential projects across four cities: Bengaluru, Mumbai, Goa, and NCR with a combined Gross Development Value (GDV) of over INR 18,000 crores.