Prestige Acquires 100% of Aspire Spaces Tellapur LLP

Prestige Estates Projects Limited has tightened its grip on one of West Hyderabad's most closely watched growth corridors. On February 18, 2026, the Company, through its wholly owned subsidiaries Prestige Garden Estates Private Limited and Prestige Acres Private Limited, acquired a 100% partnership interest in Aspire Spaces Tellapur LLP. Pursuant to the acquisition, Aspire Spaces Tellapur LLP became a wholly owned step-down subsidiary of the Company, and was subsequently converted into a private limited company now known as Aspire Spaces Tellapur Private Limited.

The transaction itself was structured as a low-cost, high-control deal typical of how large developers lock in land rights. Prestige Estates Projects Limited completed the acquisition of 100% partnership interest in Aspire Spaces Tellapur LLP on February 18, 2026, for Rs. 1 Million through its wholly owned subsidiaries. The company has disclosed this acquisition under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with subsidiaries contributing Rs. 1 Million towards the fixed capital of Aspire Spaces Tellapur LLP, securing 100% partnership interest and complete operational control over the entity and its future real estate development activities in the Tellapur region. No governmental or regulatory approvals were required for completing this transaction.

Why would a listed developer pay a nominal sum for a company with no revenue on its books? Aspire Spaces Tellapur LLP, incorporated on July 26, 2024, operates in real estate development with nil turnover for the year ended March 31, 2025. In practice, such entities are set up early to hold land rights and local approvals before construction begins, and acquiring the entity outright is often the cleanest way for a larger group to take over those rights without a separate land registration process.

The real story is the scale of what this entity controls. The acquisition targets development of a residential project in Tellapur, Hyderabad, with a total saleable area of approximately 10 million square feet, marking a significant addition to the company's project portfolio in the Hyderabad market. This falls squarely within Prestige's broader land-buying spree in the city. Hyderabad saw the largest concentration of Prestige's Q1 buying, with the developer securing 28 acres in Tellapur and 37 acres in Pulimamidi—two high-growth micro-markets within the city's IT and finance corridors. Across all its markets that quarter, Prestige Estates Projects Ltd acquired 102 acres of land across Bengaluru, Hyderabad, Chennai and Mumbai, to build housing projects with an estimated gross development value of Rs 20,400 crore.

The Aspire Spaces LLP structure appears directly tied to Prestige's marquee Tellapur launch. Industry reports on the resulting project describe it as a luxury residential township in Tellapur, Hyderabad by Prestige Constructions, developed in joint venture with Swela Realty through Aspire Spaces Tellapur Pvt Ltd, spread across 28.6 acres at Velimela village beside Nehru Outer Ring Road Exit 2, bringing 10 G+52 towers and 5,120 apartments to one of west Hyderabad's fastest-growing residential corridors. That development, branded Prestige Golden Grove, has since moved to market: Prestige Estates Projects has launched Prestige Golden Grove, one of Hyderabad's largest residential developments in Tellapur, featuring 5,120 units across 28.6 acres with a gross development value exceeding ₹9,500 crore, offering 2, 3, 3.5, and 4-bedroom homes ranging from 1,169 to 3,013 sq. ft., with ticket sizes between ₹1-3 crore.

For homebuyers, the acquisition is a signal rather than a transaction they need to act on directly. It confirms that the land parcel behind one of Hyderabad's biggest new launches is now fully under Prestige's corporate umbrella, removing joint-ownership ambiguity that can sometimes delay approvals or handovers in multi-party land deals. It also underscores how aggressively Prestige is scaling in Hyderabad, a market it entered relatively recently compared to its home base of Bengaluru, but where it now runs projects spanning Tellapur, Kokapet, Gachibowli, Budvel and Rajendra Nagar.

From a corporate-governance standpoint, the deal was routine. The transaction does not fall within related party transactions, and promoter or promoter group members have no interest in this acquisition. But from a market standpoint, it adds another data point to Prestige's land-banking pattern in Hyderabad — buy the plot, consolidate the holding structure, then launch at scale. Buyers tracking Tellapur and the broader ORR West corridor should expect more announcements from Prestige as its landbank there converts into RERA-registered launches over the coming quarters.