Operations & Projects
Prestige Estates Launches Phase 2 of Prestige Gardenia Estates in North Bengaluru with Revenue Potential of Nearly ₹400 Crore
NSE
PRESTIGE
BSE
533274
Prestige Estates Projects Limited has launched Phase 2 of its plotted development project, Prestige Gardenia Estates, in Devanahalli, North Bengaluru. The new phase spans approximately 21 acres, comprises 195 plots, and carries an estimated revenue potential of nearly ₹400 crore, reflecting continued demand for plotted residential developments in the North Bengaluru corridor.
PRICE-SENSITIVE TRIGGER
Event: Launch of Prestige Gardenia Estates – Phase 2
Type: Operations & Projects
Impact: Positive
Immediate Effect: The launch expands Prestige Estates’ presence in the fast-growing North Bengaluru residential market and adds a new inventory pipeline with an estimated revenue potential of nearly ₹400 crore. The development strengthens the company’s plotted development portfolio in Devanahalli, a strategic micro-market benefiting from proximity to Kempegowda International Airport and major infrastructure corridors. Management indicated that the project has been well received, with strong customer demand supporting sales momentum.
Key Metrics:
- Project Area: Approximately 21 acres
- Number of Plots: 195
- Total Development Area: Just under 0.5 million sq. ft.
- Estimated Revenue Potential: Nearly ₹400 crore
- Revenue: Not disclosed
- EBITDA: Not disclosed
- PAT: Not disclosed
- Margins: Not disclosed
- QoQ / YoY Movement: Not disclosed
- Segment Performance: Residential plotted development segment
Highlight:
- Prestige Gardenia Estates Phase 2 carries an estimated revenue potential of nearly ₹400 crore across 195 residential plots.
What Happened ?
Prestige Estates Projects Limited informed stock exchanges that it has launched Phase 2 of its plotted residential development project, Prestige Gardenia Estates, located in Devanahalli, North Bengaluru.
The project is situated within the North Bengaluru growth corridor, offering connectivity to Kempegowda International Airport, NH-44, Satellite Town Ring Road and major employment hubs. The newly launched phase spans approximately 21 acres and includes 195 residential plots supported by infrastructure-ready development and community amenities.
According to the company, the project has received a strong market response, reflecting sustained demand for plotted developments in North Bengaluru.
Key Details
Project Development Details:
- Located in Devanahalli, North Bengaluru.
- Spread across approximately 21 acres of planned development.
- Comprises 195 residential plots.
from the date of receipt of the order. - Total development area is just under 0.5 million sq. ft.
- Revenue potential estimated at nearly ₹400 crore.
- Positioned near Kempegowda International Airport, NH-44 and Satellite Town Ring Road.
- Features infrastructure-ready plots with landscaped open spaces and green zones.
- Amenities include clubhouse, jogging and walking tracks, multipurpose courts, pickleball courts, outdoor gym, yoga lawn, reflexology path, themed gardens, children’s play areas and pet-friendly facilities.
- Developed within the rapidly expanding North Bengaluru residential corridor.
Note:
- Prestige stated that the project has been exceptionally well received by customers, highlighting strong demand for sustainable and well-connected plotted developments in North Bengaluru.
Risk Analysis
Summary:
- While the launch enhances Prestige’s development pipeline, project monetization remains dependent on customer demand, execution timelines, regulatory approvals and overall residential real estate market conditions in Bengaluru.
Key Risks:
- Sales velocity may vary depending on residential market demand.
- Revenue realization is linked to plot bookings and collections.
- Infrastructure and development execution timelines remain critical.
- Real estate sector remains sensitive to interest rates and economic conditions.
- Competitive launches in the North Bengaluru market may influence absorption rates.
Worst Case Scenario:
- A slowdown in residential demand or delays in project execution could postpone sales realization and reduce the pace of revenue conversion from the project’s estimated potential.
Risk Level: Medium
Company Commentary
- Prestige announced the launch of the next phase of its best-selling plotted development project in North Bengaluru.
- The company highlighted the strategic location advantages of the Devanahalli corridor.
- Management emphasized the project’s focus on sustainable, nature-centric community living.
- Prestige stated that the development has been exceptionally well received by buyers.
- The company believes the response underscores continued demand for quality plotted developments in well-connected growth corridors.
Official Exchange Filing: Prestige Estates Projects Limited
