Prestige Estates Projects (NSE:PRESTIGE, BOM:533274) said its subsidiary, Prestige Hospitality, has decided to shelve its plan for an initial public offering, citing "strategic considerations and uncertain market conditions", according to a Friday filing to the Indian bourses.

Prestige Hospitality has withdrawn its Draft Red Herring Prospectus filed with the Securities and Exchange Board of India on April 24, 2025, the company said.

The company added that it may consider filing a fresh DRHP with SEBI for a public listing of Prestige Hospitality's equity shares in the future, subject to suitable market conditions, receipt of requisite approvals, and other considerations.