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Prestige Estates Projects Ltd has launched Prestige Garden Trails in Mumbai, aiming for INR 2,000 crore in revenue. Spread across 5.2 acres, the project includes 1,324 units with a total carpet area of 10 lakh sq ft. Following its recent Ghaziabad launch worth INR 2,200 crore, the company continues its expansion strategy amid high demand for quality housing. With over 300 projects completed since 1986 and record sales in the first half of the fiscal year, Prestige demonstrates strong growth and sustained focus on India's residential real estate market.
Prestige Estates Projects Ltd has introduced a new residential development, Prestige Garden Trails, located along the Dahisar-Mira Road corridor on Mumbai's Western Express Highway. The company expects the project to generate approximately INR 2,000 crore in revenue. Spanning 5.2 acres, the project will feature a total carpet area of around 10 lakh sq ft, comprising 1,324 residential units. This development underlines the company's continued focus on mid-segment housing to meet the growing demand for quality homes in the Mumbai Metropolitan Region (MMR). Advertisement
Irfan Razack, Chairman and Managing Director of Prestige Group, highlighted that Mumbai continues to be a key market for the company and expressed confidence in the rising demand for well-designed, mid-segment residences. This project follows the company's recent launch of 620 flats in Ghaziabad, which are expected to generate INR 2,200 crore, reflecting Prestige's strategy to expand its presence in high-demand markets.
Founded in 1986, Prestige Group has successfully completed over 300 projects, covering more than 199 million sq ft of developable area. Its ongoing and upcoming projects extend across major cities including Bengaluru, Mumbai, Hyderabad, Chennai, NCR, Goa, and Kochi. The company has built a reputation for delivering quality residential and commercial properties, responding effectively to shifting buyer preferences over the years.
Recent performance data shows that Prestige Estates recorded a 50 per cent increase in sales bookings during the second quarter of this fiscal year, reaching INR 6,017.3 crore due to strong housing demand. Sales volumes for the quarter stood at 4.42 million sq ft, a 47 per cent rise year-on-year, with 2,069 units sold. The average realisation for apartments increased 8 per cent year-on-year to INR 14,906 per sq ft, while plot sales saw a sharp 43 per cent jump to INR 9,510 per sq ft.
During the first half of this fiscal, the company achieved record sales of INR 18,143.7 crore, marking a 157 per cent increase year-on-year and surpassing its full-year FY25 sales target. Total sales volumes for this period reached 13.96 million sq ft, with 6,788 units sold. These results highlight the company's strong market presence and its ability to capitalize on rising demand for both mid-segment and premium housing in India's key residential markets.
Source PTI
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