Operations & Projects
Prestige Estates Launches Phase 2 of Prestige Forest Hills at The Prestige City, Mulund
NSE
PRESTIGE
BSE
533274
Prestige Estates Projects Limited, through its wholly owned subsidiary, has launched Phase 2 of Prestige Forest Hills at The Prestige City, Mulund, Mumbai. The new phase comprises 500 premium residences with an estimated Gross Development Value (GDV) of approximately ₹2,200 crore.
PRICE-SENSITIVE TRIGGER
Event: Launch of Phase 2 of Prestige Forest Hills residential project at The Prestige City, Mulund.
Type: Operations & Projects
Impact: Positive
Immediate Effect: The project launch expands Prestige Estates’ premium residential portfolio in Mumbai and adds a high-value inventory with an estimated GDV of approximately ₹2,200 crore.
Key Metrics:
- Estimated Gross Development Value (GDV): Approximately ₹2,200 crore
- Apartment Size Range: 946 sq. ft. – 2,643 sq. ft. (RERA carpet area)
- Starting Ticket Size: Approximately ₹2.73 crore
- Total Developable Area: Approximately 1.7 million sq. ft.
- Project Land Area: Approximately 6.5 acres
- Integrated Township Size: Approximately 32 acres
- Lifestyle Amenities: 50+ amenities
Highlight:
- Estimated Gross Development Value (GDV): ₹2,200 crore
What Happened ?
Prestige Estates Projects Limited informed the stock exchanges that its wholly owned subsidiary has officially launched Phase 2 of Prestige Forest Hills at The Prestige City, Mulund in Mumbai.
The newly launched phase consists of Tower C (part) and Tower D, offering premium 3 and 4-bedroom residences. The development is positioned within the larger integrated township of The Prestige City and is designed to capitalize on growing demand for premium housing in Mumbai.
Key Details
Government Incentive Package:
- Phase 2 comprises 500 premium residential units.
- Offers spacious 3 and 4-bedroom residences with expansive decks.
- Carpet areas range from 946 sq. ft. to 2,643 sq. ft.
- Entry pricing starts from approximately ₹2.73 crore.
- Total developable area is around 1.7 million sq. ft.
- Estimated project GDV stands at approximately ₹2,200 crore.
- Located at The Prestige City, Mulund, a 32-acre integrated township in Mumbai.
- The project occupies approximately 6.5 acres and includes four high-rise towers.
- Residents will have access to more than 50 lifestyle amenities.
- Phase 1 of Prestige Forest Hills (Towers A & B) was launched in August 2024.
Note:
- The company highlighted the project’s strategic location near Yogi Hills with connectivity to Mumbai’s key business districts and major transport corridors.
Risk Analysis
Summary:
- The successful monetization of the project depends on residential demand, execution timelines and sales velocity in Mumbai’s premium housing market.
Key Risks:
- Sales performance may depend on prevailing residential market conditions.
- Construction and regulatory approvals could influence project timelines.
- Higher interest rates or weaker homebuyer sentiment may impact bookings.
- Revenue recognition will occur progressively as construction milestones are achieved.
Worst Case:
- Any slowdown in premium residential demand or delays in project execution could defer sales realization and cash flow generation from the development.
Risk Level: Medium
Company Commentary
- Prestige Estates has launched Phase 2 of Prestige Forest Hills at The Prestige City, Mulund.
- The project offers premium residences with large living spaces and extensive lifestyle amenities.
- The development forms part of the company’s integrated township strategy in Mumbai.
- As of March 2026, Prestige Group has delivered 316 projects covering 212 million sq. ft. and maintains a development pipeline of 135 projects spanning 227 million sq. ft.
Official Exchange Filing: Prestige Estates Projects Limited
