Prestige plans separate listing for hospitality arm with 5,500 keys

Prestige Group plans to list its hospitality business separately as it expands to 5,500 keys, Chairman and Managing Director Razack told NDTV Profit. The company's hospitality arm, Prestige Hospitality Ventures, recently secured a Rs 3,000 crore investment from Canada's CPP Investment Board (CPPIB) for a 28% stake.

The group is also considering three other separate listings, Razack said, without providing details. The hospitality arm's expansion from its current inventory of around 2,000 keys is backed by the CPPIB deal, which values the unit at about Rs 10,700 crore.

No timeline has been announced for the proposed listing of the hospitality business.