Prestige Group, a prominent real estate company, has launched a new residential project in Whitefield, East Bengaluru, with an estimated sales potential of ₹1,100 crore, according to a company statement.
The project, named Prestige Pine Forest, will feature 316 residential units across four towers, spanning nine acres. It will offer 3 and 4 BHK homes ranging in size from 2,442 to 3,556 square feet.
“We are excited to introduce Prestige Group’s latest architectural creation, which reflects our dedication to luxury, comfort, and convenience. This project sets new standards in quality and craftsmanship, highlighting our unwavering commitment to providing exceptional experiences,” said Praveer Shrivastava, Senior Executive VP- Residential, Prestige Group.
In the April-June quarter, Prestige Group launched two other residential projects in Bengaluru, covering a total developable area of 1.86 million square feet, with a gross development value of ₹1,400 crore.
Business performance
In the first quarter of FY25, Prestige Estates reported a consolidated net profit of ₹307 crore, a 3.4% drop from the same period last year. The company’s revenue from operations reached ₹1,862.1 crore, up from ₹1,680.9 crore in the same quarter of the previous year.
According to Company CMD Irfan Razack, the firm saw strong sales performance in key regions like Bengaluru (43%), Hyderabad (32%), and Mumbai (23%). A total of 1,364 units were sold in Q1 FY25, with a total sales volume of 2.86 million square feet, down from 3.83 million square feet in Q1 FY24.
Prestige Estates operates across 13 cities, with a total footprint of 190 million square feet, and undertakes projects in residential, office, retail, hospitality, and warehouse sectors.
