Mumbai, Oct 15 : Prestige Estates Projects Ltd has announced the launch of a new residential development, ‘Prestige Garden Trails’, along the Dahisar-Mira Road corridor on the Western Express Highway in Mumbai, according to a regulatory filing to the stock exchange on Tuesday.
The project spans 5.2 acres and offers a total carpet area of approximately 10 lakh square feet, comprising 1,324 residential units. The Gross Development Value (GDV) of the project is estimated at Rs 2,000 crore.
Commenting on the launch, Irfan Razack, Chairman and Managing Director of Prestige Group, said, “Mumbai continues to be one of our key focus markets. The upcoming project reflects the company’s confidence in the strong demand for quality mid-segment housing in the Mumbai Metropolitan Region (MMR).”
The launch comes on the back of strong performance by Prestige Estates Projects, which reported a 50 per cent increase in sales bookings to Rs 6,017.3 crore during the second quarter of the fiscal year, driven by robust housing demand.
During the July-September period, the company sold 2,069 units covering a sales volume of 4.42 million square feet, up 47 per cent year-on-year. The average realisation for apartments rose 8 per cent year on year to Rs 14,906 per square foot, while plots saw a sharp 43 per cent increase in realisation to Rs 9,510 per square foot.
For the first half of FY26, Prestige Estates achieved record sales of Rs 18,143.7 crore, a 157 per cent increase year-on-year, surpassing its full-year FY25 sales, highlighting the company’s growing footprint in the Mumbai real estate market.
The Prestige Garden Trails project reinforces the company’s focus on mid segment housing in Mumbai, catering to the rising demand for quality residential developments in the metropolitan region.