Canada Pension Plan Investment Board (CPP Investments) has invested ₹3,000 crore in Prestige Hospitality Ventures Ltd (PHVL), the hospitality arm of Prestige Estates Projects, acquiring an approximately 27% stake. The investment marks CPP Investments’ first direct investment in India’s hospitality sector.
Most of the capital will support PHVL’s expansion, with its development pipeline spanning Bengaluru, Chennai, Delhi, Goa, Hyderabad and Mumbai. The hospitality platform owns and develops luxury and premium hotels across key Indian cities.
The investment follows Prestige Estates’ decision to withdraw plans for an IPO of its hospitality arm amid uncertain market conditions. CPP Investments will also receive certain governance rights and exit options under the transaction framework.
