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 Limited has incorporated a new wholly-owned subsidiary, Orange Grove Lands Private Limited, on January 9, 2026. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the certificate of incorporation received on January 10, 2026.

Subsidiary Details and Capital Structure

The newly incorporated subsidiary has been established with specific capital parameters and business objectives:

Share Subscription and Ownership Structure

Prestige Estates Projects Limited acquired complete ownership of the subsidiary through a strategic share subscription arrangement. The company subscribed to 10,000 equity shares of ₹10.00 each, representing 100% of the paid-up share capital.

Business Focus and Strategic Intent

Orange Grove Lands Private Limited has been incorporated specifically to carry on real estate development activities. The subsidiary is yet to commence its business operations, with no applicable turnover history as it represents a new venture within the Prestige Estates Projects group structure.

Regulatory Compliance and Related Party Status

The incorporation constitutes a related party transaction as Orange Grove Lands Private Limited is now a wholly-owned subsidiary of Prestige Estates Projects Limited. However, the promoter, promoter group, and group companies have no specific interest in this transaction. The company confirmed that no governmental or regulatory approvals were required for this incorporation, and no specific timeline for acquisition completion was applicable given the direct incorporation approach.