Prestige Estates Issues ₹4.5 Billion Corporate Guarantee For JV Firm’s Loan

Prestige Estates Projects Ltd. on Thursday said it has issued a corporate guarantee to Hongkong and Shanghai Banking Corp. Ltd. on behalf of its joint venture Thomsun Realtors Pvt. Ltd. for a term loan of ₹4.5 billion.

The corporate guarantee, classified as a contingent liability, has been extended on an arm’s length basis, the company said in an exchange filing. Prestige Estates clarified that there is currently no impact of this guarantee on its own financials.