Piramal Enterprises has announced that its wholly owned subsidiary Piramal Capital & Housing Finance Limited has acquired a 100% stake in PRL Agastya Private Limited for a cash consideration of Rs 90 crore.
PRL Agastya is in the construction and development of real estate projects business. PRL Agastya currently owns a developed commercial building with a leasable area of 7.44 lakh square feet and development potential of up to 70k square feet.
The acquisition’s goal is to acquire office space. PRL Agastya has a ready-to-use office building as well as development potential for additional space. This will help the Company and its subsidiaries meet their current and future office space needs. PRL Agastya is in the construction and development of real estate projects business. It is present in India.