Prestige Group Targets ₹2,000 Crore from New Housing Project in Mumbai

Prestige Estates Projects Ltd has launched a new residential project called ‘Prestige Garden Trails’ in Mumbai, with an expected revenue of ₹2,000 crore. The announcement was made through a regulatory filing on Tuesday.

The project is located along the Dahisar-Mira Road corridor on the Western Express Highway, one of Mumbai’s fast-developing residential zones.

Project Details and Scope

Spread across 5.2 acres, Prestige Garden Trails will feature a total carpet area of about 10 lakh sq ft and include 1,324 housing units. The project’s Gross Development Value (GDV) is pegged at around ₹2,000 crore, reflecting the company’s confidence in the Mumbai housing market.

Irfan Razack, Chairman and Managing Director of Prestige Group, said Mumbai remains a key focus market for the company, driven by strong housing demand in the mid-segment category within the Mumbai Metropolitan Region (MMR).

Part of a Wider Expansion Plan

This new project in Mumbai follows Prestige’s recent launch of 620 flats in Ghaziabad, expected to generate ₹2,200 crore in revenue. The company has been actively expanding across major Indian cities to capitalise on the rising demand for premium and mid-income homes.

Founded in 1986, the Prestige Group has delivered over 300 projects covering more than 199 million sq ft of developable area. The company’s ongoing and upcoming projects span key cities such as Bengaluru, Mumbai, Hyderabad, Chennai, NCR, Goa, and Kochi.

Strong Sales Momentum in FY26

In the second quarter (Q2 FY26), Prestige Estates reported a 50% jump in sales bookings to ₹6,017.3 crore, backed by solid housing demand. Sales volumes grew 47% year-on-year to 4.42 million sq ft, with 2,069 units sold between July and September 2025.

The company’s average realisation for apartments rose 8% YoY to ₹14,906 per sq ft, while plot realisations surged 43% to ₹9,510 per sq ft.

For the first half of FY26, Prestige achieved record sales of ₹18,143.7 crore, up 157% YoY, already surpassing its full-year FY25 sales.

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Prestige Estates Projects Share Price Movement

As of October 14, 2025, Prestige Estates Projects share price (NSE: PRESTIGE) closed at ₹1,604.40, down ₹10.20 or 0.63% from the previous session. During the day, the stock opened at ₹1,629.60, touching a high of ₹1,629.60 and a low of ₹1,585.40. The company commands a market capitalisation of ₹69,150 crore and trades at a price-to-earnings (P/E) ratio of 128.55. It offers a dividend yield of 0.11%, with a quarterly dividend payout of ₹0.44 per share. Over the past year, the stock has ranged between a 52-week high of ₹1,909.85 and a low of ₹1,048.05.

Conclusion

With the launch of Prestige Garden Trails, the Prestige Group is strengthening its presence in the Mumbai real estate market. The ₹2,000 crore project highlights the company’s confidence in urban housing demand and marks another step in its nationwide expansion strategy. Backed by strong quarterly sales and a growing portfolio, Prestige continues to be one of India’s leading real estate developers, driving growth across major cities.

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