Prestige Group Launches ₹2,000 Crore Housing Project in Mumbai
Prestige Group, a leading real estate developer in India, has announced the launch of its new residential project in Mumbai, targeting a revenue of ₹2,000 crore. The project, 'Prestige Garden Trails,' is located in the Dahisar-Mira Road corridor and spans 5.2 acres.
Real EstateMumbaiPrestige GroupResidential ProjectMarket CapitalisationReal EstateOct 14, 2025
In a regulatory filing, the company detailed the launch of 'Prestige Garden Trails,' a new residential project located at the Dahisar-Mira Road corridor on the Western Express Highway in Mumbai. The project spans 5.2 acres and comprises 1,324 residential units with a total carpet area of around 1 million square feet. The estimated Gross Development Value (GDV) of the project is ₹2,000 crore.
Irfan Razack, Chairman and Managing Director of Prestige Group, expressed his confidence in the Mumbai market. “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,” he stated.
Razack further added, “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.”
Prestige Estates has also 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, highlighting robust sales momentum, strong collections, and healthy launches that drive exceptional growth across geographies.
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 noted that 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.
Regarding the company's 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.
Frequently Asked Questions
What is the name of the new residential project launched by Prestige Group in Mumbai?
The new residential project launched by Prestige Group in Mumbai is called 'Prestige Garden Trails'.
What is the estimated revenue target for the 'Prestige Garden Trails' project?
The estimated revenue target for the 'Prestige Garden Trails' project is ₹2,000 crore.
Where is the 'Prestige Garden Trails' project located?
The 'Prestige Garden Trails' project is located in the Dahisar-Mira Road corridor on the Western Express Highway in Mumbai.
What is the total carpet area of the 'Prestige Garden Trails' project?
The total carpet area of the 'Prestige Garden Trails' project is around 1 million square feet.
How many residential units does the 'Prestige Garden Trails' project comprise?
The 'Prestige Garden Trails' project comprises 1,324 residential units.
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