Prestige Group eyes ₹2,000 crore revenue from new housing project in Mumbai; shares settle marginally lower

Prestige Group, one of India’s leading real estate developers, on Tuesday, October 14, announced the launch of its new residential project in Mumbai, with a target of about ₹2,000 crore revenue.

In a regulatory filing, the company said it has launched a new residential project - 'Prestige Garden Trails' located at Dahisar-Mira Road corridor on the Western Express Highway in Mumbai.

Spread over 5.2 acres, the project comprises 1,324 residential units with a total carpet area of around 1 million sq ft and an estimated Gross Development Value (GDV) of ₹2,000 crore.

Irfan Razack, Chairman and Managing Director of Prestige Group, said, “Mumbai continues to be one of our key focus markets, and Prestige Garden Trails reflects our confidence in its strong and enduring demand for quality mid-segment housing. We’ve built a strong brand reputation in Mumbai through our luxury and uber-luxury developments, establishing deep trust and recall among customers.”

“With The Prestige City Mulund, our flagship integrated township in the eastern suburbs, we’ve successfully extended that credibility to a wider audience. Building on this momentum, we now aim to leverage our brand equity to drive greater scale and speed in the suburban markets, translating goodwill into both velocity and volume,” he further added.

Prestige Estates recently launched 620 flats for sale in Ghaziabad with an estimated revenue of ₹2,200 crore, as part of its strategy to expand business amid strong demand for premium residential properties.

On October 8, the real estate firm shared its July to September business updates. Robust sales momentum, strong collections, and healthy launches drive exceptional growth across geographies, the company said.

Riding on sustained demand and strategic launches, the company has achieved sales of ₹1,81,43.7 crore in H1 FY26, up 157% year-on-year (YoY), surpassing its full-year FY25 sales.

During Q2 FY26, Prestige recorded sales of ₹60,17.3 crore, marking a 50% YoY growth, driven by robust demand across markets and segments. Sales volume for the quarter stood at 4.42 million square feet, up 47% YoY, translating to 2,069 units sold. The average realisation for apartments rose 8% YoY to ₹14,906 per square foot, while plots saw a sharp 43% increase in realisation to ₹9,510 per square foot.

For H1 FY26, sales volumes aggregated 13.96 million square feet, representing 6,788 units sold. The average realisation for apartments was ₹13,769 per square foot, up 6% year-on-year, while plots averaged ₹8,425 per square foot, up 17% year-on-year.

The real estate major further said that the collections remained strong at ₹42,12.8 crore during Q2, up 54% YoY, taking the H1 collections to ₹87,35.6 crore, a 55% increase over the same period last year. Sales reflected a balanced and geographically diversified performance across the Prestige’s key markets.

Prestige Estates share price

Shares of Prestige Estate projects settled 0.63% lower at ₹1,604.40 apiece on the National Stock Exchange (NSE).

In the past five trading sessions, Prestige Estates’ shares have risen 5.08%, while posting a marginal increase of 0.64% over the past month. Over the last six months, the stock has advanced 33.87%, though it remains lower by 2.97% on a year-to-date basis.

The shares hit a 52-week high of ₹1,909.85 on October 15, 2024, and a 52-week low of ₹1,048.05 on April 7, 2025. As of October 14, the company’s market capitalisation was ₹69,106.36 crore.