Prestige Estates to use Rs 5k-cr QIP raise to pare debt, acquire assets, says CMD Irfan Razack

The firm plans to invest Rs 16,000 crore to fuel its growth and sell Rs 50,000-crore worth residential assets over the next five years. It also targets more than four times growth in exit rental income from office and retail segments by FY28, the company said in an investor presentation post the March quarter results.