Prestige Estates Projects Limited has released its latest Monitoring Agency Report for the quarter ended September 30, 2025, confirming that the utilisation of funds raised through its Qualified Institutional Placement (QIP) is fully aligned with the objectives outlined in the offer document. The intimation, submitted to NSE and BSE on November 20, 2025, includes the Monitoring Report issued by ICRA Limited, the appointed agency overseeing the use of proceeds.
The company had raised ₹5,000 crore through the QIP issued between August 29 and September 4, 2024. After accounting for issue-related expenses, the net proceeds were revised to ₹4,899.17 crore, slightly lower than the earlier estimate due to an increase of ₹1.43 crore in actual expenses. The Monitoring Agency reiterated that no deviations have been observed in utilisation of proceeds and that all expenditures strictly follow the stated objectives.
According to the report, Prestige has fully utilised the amounts earmarked for key categories such as repayment or pre-payment of borrowings (₹1,500 crore) and land acquisition or development rights (₹1,000 crore). The utilisation for general corporate purposes stands at ₹1,149.17 crore, covering working capital requirements, land acquisition, loan repayment, and dividend payouts, with detailed allocation recorded across Q2–Q4 FY25.
The company also invested ₹829.35 crore out of the ₹1,250 crore allocated for investments in subsidiaries and joint ventures, leaving an unutilised amount of ₹420.65 crore as of the quarter end. These unutilised funds remain deployed in fixed deposits across major banks such as ICICI Bank and SBI, earning interest and maintaining liquidity.
The Monitoring Agency confirmed that all project components tied to the QIP remain on schedule, with no delays recorded for any of the stated objectives, including ongoing and upcoming project funding, debt reduction, and general corporate activities. Additionally, there has been no change in the means of finance, and no statutory approvals remain pending.
The Monitoring Agency emphasised that the report presents an objective evaluation based on verified documents, including placement records, peer-reviewed certifications, and bank statements. Prestige’s board has also not reported any concerns regarding utilisation or compliance.
With consistent reporting and adherence to stated objectives, Prestige Estates continues to demonstrate disciplined financial management and transparency toward its stakeholders.
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