Prestige Estates Projects Limited has announced the launch of Evergreen at Prestige Raintree Park, a premium residential development in Whitefield, Bengaluru, marking a significant expansion of the company's presence in one of the city's most sought-after micro-markets. The project represents a substantial investment with an estimated Gross Development Value of ₹5,000.00 crores.

Project Specifications and Scale

Evergreen at Prestige Raintree Park is planned on approximately 24 acres of land and comprises around 2,000 apartments with a total saleable area of 3.20 million square feet. The development offers a comprehensive range of residential options to cater to diverse customer preferences.

Strategic Market Positioning

This launch follows the successful introduction of Prestige Raintree Park in September 2024, which featured larger-format residences and received strong market response. Evergreen at Prestige Raintree Park expands the offering to include a wider range of unit sizes, including smaller-format homes, enabling broader customer participation while maintaining the premium living experience that defines the Prestige Raintree Park development.

Whitefield remains one of Bengaluru's most sought-after residential micro-markets, supported by established IT hubs, strong social infrastructure, and improving connectivity, making it an attractive destination for homebuyers and investors.

Management Commentary

Commenting on the launch, Mr. Irfan Razack, Chairman and Managing Director of Prestige Estates Projects Limited, highlighted the strategic rationale behind the project. He emphasized that Evergreen builds on the encouraging response received to Prestige Raintree Park launched earlier, with the new development expanding the product mix to include a wider range of apartment configurations to address evolving customer preferences in Whitefield.

The project is strategically located at the junction of Whitefield and Varthur, offering strong connectivity to key office hubs and benefiting from proximity to established social infrastructure such as malls, schools, and hospitals.

Company Background

Prestige Group is one of India's most respected and diversified real estate developers, with a legacy of almost four decades and a portfolio spanning residential, commercial, retail, hospitality, and integrated townships across major cities. As of September 2025, the Group has delivered 310 projects spanning 202 million square feet and currently has a pipeline of 130 projects across 199 million square feet.

Prestige Estates Projects announced exceptional operational performance for the quarter and nine months ended December 31, 2025, delivering record-breaking sales and collections alongside sustained execution momentum. The company achieved Q3 FY26 pre-sales of ₹41,836 million, representing a robust 39% year-on-year growth, while nine-month sales reached a record ₹223,273 million, marking a remarkable 122% year-on-year increase.

Record-Breaking Sales Performance

The company's sales performance reached unprecedented levels during the reporting period. Q3 FY26 pre-sales of ₹41,836 million demonstrated strong momentum, while the nine-month performance was particularly impressive, with pre-sales surging to ₹223,273 million, marking the highest sales ever achieved by the company and surpassing previous full-year peaks within just nine months.

The geographical sales mix remained well diversified during Q3 FY26, with Mumbai contributing 36%, Bengaluru 25%, Hyderabad 16%, NCR 16%, Chennai 5%, and Kochi 2% of total sales. Plot realizations showed particularly strong momentum, with average realization at ₹9,165 per sq. ft., recording a significant 31% year-on-year increase.

Strong Collections and Cash Flow

Collections performance mirrored the exceptional sales trajectory. Q3 FY26 collections stood at ₹45,475 million, registering a solid 40% year-on-year growth. For the nine-month period, collections reached ₹132,833 million, marking the highest collections ever achieved by the company in any nine-month period and exceeding collections recorded in previous full financial years.

Development Pipeline and Execution

The company maintained strong execution momentum with significant project launches and completions. During Q3 FY26, Prestige Estates launched 5.02 million sq. ft., bringing total launches in 9M FY26 to 23.83 million sq. ft. The cumulative GDP of residential launches during the nine-month period reached ₹196,190 million.

Key Q3 FY26 Launches

Project Completions

During Q3 FY26, the company completed 4.72 million sq. ft., taking total completions for 9M FY26 to 12.71 million sq. ft.

Commercial Portfolio Performance

Office Portfolio

The office portfolio demonstrated strong operational metrics with leasing of 0.56 million sq. ft. during Q3 FY26. Occupancy across the operating office portfolio remained robust at over 95% as of December 31, 2025. Exit rentals from the office portfolio for FY26 are expected to be ₹8,286 million, with projections to reach approximately ₹40,000 million by FY30 upon completion of the ongoing construction pipeline.

The company recently completed Prestige Lakeshore Drive and Prestige Capital Square, premium office developments spanning 3.70 million sq. ft. in Bengaluru. With leasing largely concluded, these assets are positioned to augment the company's steady cash flow profile and annuity income.

Retail Portfolio

The retail segment showed strong performance indicators with total mall footfalls of 5.20 million during Q3 FY26. Gross Turnover across malls reached ₹7,015 million, reflecting a healthy 14% year-on-year growth. Occupancy across the retail portfolio remained exceptionally strong at over 99% as of December 31, 2025.

With 13 malls in the development pipeline, exit rentals are projected to grow to approximately ₹10,920 million by FY30, significantly scaling the retail annuity platform.

Management Commentary

Chairman and Managing Director Irfan Razack highlighted the validation of demand environment and execution platform strength. He emphasized that achieving the highest-ever sales and collections, surpassing even previous full-year peaks within just nine months, reflects the trust customers continue to place in the Prestige brand and the consistency of market positioning. The company's well-diversified portfolio across geographies and asset classes, with residential development complemented by stable and growing annuity income from office and retail assets, provides resilience to market cycles and helps insulate the business from short-term fluctuations in any single market or segment.