Advent Hotels International has formed a 50:50 joint venture with Prestige Estates Projects Limited to develop a 21,978 sq. meter land parcel in Mumbai. Advent will receive ₹504 crore for a 50% stake in its subsidiary, Advent Convention and Hotels International Limited (ACHIL).
Advent Hotels International Forms Joint Venture with Prestige Estates
Advent Hotels International Limited announced a significant joint venture with Prestige Estates Projects Limited and Prestige Falcon Realty Ventures Private Limited. The agreement involves a 50% equity stake sale in its subsidiary, Advent Convention and Hotels International Limited (ACHIL), for an investment of ₹504 crore.
What just happened
Advent Hotels International is forming a 50:50 joint venture (JV) for its Mumbai land parcel. Prestige Estates Projects Limited will invest ₹504 crore for a 50% stake in Advent Convention and Hotels International Limited (ACHIL), making it a JV entity.
Why this matters
This JV allows Advent Hotels International to partner with an established developer to monetize its prime Mumbai land. The ₹504 crore investment will fund the development of the 21,978 sq. meter Sahar property, unlocking value for shareholders.
The backstory
Advent Hotels International became the sole owner of the 21,978.22 sq. meter land parcel in Sahar, Andheri East, Mumbai, through a corporate restructuring and NCLT-approved demerger in mid-2025. The land was transferred to ACHIL, a special purpose vehicle, for project development.
What changes now
ACHIL, formerly a wholly-owned subsidiary, will now operate as a 50:50 joint venture between Advent Hotels International and Prestige Estates. This structure enables shared risk and capital for the large-scale development project.
Risks to watch
The transaction is contingent upon fulfilling certain conditions precedent outlined in the Investment Agreement. Investors should closely monitor the official closing of this deal.
Peer comparison
Prestige Estates Projects is a well-established real estate developer with a significant presence in key Indian markets. This partnership leverages Prestige's development expertise with Advent's land asset.
Context metrics (time-bound)
- Land Area: 21,978.22 sq. meters
- Investment Consideration: ₹504 crore
- JV Entity: Advent Convention and Hotels International Limited (ACHIL)
- Ownership Structure: 50:50 JV
- Location: Sahar, Andheri East, Mumbai
What to track next
Investors should track the official confirmation of the transaction closing and future updates on the project's development progress and financial performance of the joint venture.