Real estate major Prestige Estates Projects Limited has officially launched Phase 2 of Prestige Forest Hills within its 32-acre township, The Prestige City, in Mulund, Mumbai. The premium addition adds 500 high-end units with an estimated Gross Development Value of ₹2,200 crore, scaling the firm’s metropolitan development portfolio.
MUMBAI, India — Indian real estate development heavyweight Prestige Estates Projects Limited has officially launched Phase 2 of "Prestige Forest Hills" within its flagship integrated township, The Prestige City, located in Mulund West, Mumbai. The major corporate expansion, disclosed to national stock exchanges via regulatory transparency filings on June 30, 2026, introduces a massive inventory of premium apartments to the financial capital's inventory-starved luxury housing market. The new development phase features an estimated Gross Development Value (GDV) of approximately 2,200 crore rupees ($264 million), demonstrating the Bengaluru-based builder’s rapid expansion into competitive metropolitan property markets outside its traditional southern stronghold.
Expanding Inventory in Mumbai Affluent Housing Market
According to official compliance filings submitted under the SEBI Listing Obligations and Disclosure Requirements guidelines, the newly opened construction phase comprises Towers C (in part) and the entirety of Tower D. The project portfolio includes exactly 500 premium residential configurations spread across a total developable footprint of approximately 1.7 million square feet. Nestled against the foothills of Yogi Hills, the development project targets affluent home buyers, offering large-format three and four-bedroom homes equipped with wide private decks.
The company's cost sheet details that individual residence profiles start at a base Real Estate Regulatory Authority (RERA) carpet area of 946 square feet, stretching up to 2,643 square feet for the highest-tier four-bedroom variations. Pricing metrics for the premium residential options carry a starting ticket size of approximately 2.73 crore rupees, scaling up proportionately based on elevation tiers and private deck configurations.
Township Infrastructure and Portfolio Context
Prestige Forest Hills spans a total dedicated plot size of approximately 6.5 acres within the broader 32-acre township infrastructure known as The Prestige City. The full plan incorporates four high-rise vertical towers wrapped around an expansive podium layout that hosts more than 50 lifestyle amenities, including sports courts, fitness studios, and localized wellness spaces. The developer previously executed the commercial launch of Phase 1, which comprised Towers A and B, in August 2024.
Independent credit research reports compiled by ICRA Limited reveal that the township's core construction execution is managed under Prestige Mulund Realty Private Limited, a 100 percent wholly owned corporate subsidiary of the parent firm. Credit underwriters note that the broader township operates as a self-sustaining luxury ecosystem, built to integrate extensive retail zones, healthcare facilities, commercial office bays, and educational facilities alongside separate housing complexes such as the ongoing Bellanza and Siesta towers.
Strategic Impact on Realty Markets and Investors
For institutional public shareholders and real estate investors, the activation of this 2,200 crore rupee asset block highlights Prestige Group’s robust pre-sales momentum. Holding the highest "DA1+" developer execution grade from CRISIL, the corporation has consistently led listed national developers in quarterly booking velocity. Financial analysts note that the launch enables the brand to monetize its high-value Mumbai land assets, driving higher revenue recognition and supporting corporate cash flows as it prepares separate entries into alternative northern metropolitan zones.
Following the evening stock exchange circular distributed by the corporate compliance office, equity shares of Prestige Estates Projects Limited (NSE: PRESTIGE | BSE: 533274) exhibited healthy consolidation on trading terminals, closing at approximately ₹1,637 per share. Homebuyers and market experts view the structured phase launch as a positive signal that well-capitalized, tier-1 real estate brands are continuing to absorb heavy market demand, insulated from minor localized liquidity constraints affecting smaller regional construction players.
Official Sources Section
The underlying quantitative variables, apartment dimensional metrics, gross development values, and timeline summaries analyzed inside this news briefing are transcribed directly from statutory compliance documents filed with the National Stock Exchange of India and the Bombay Stock Exchange. Institutional balance sheet baselines and subsidiary details align with updated corporate rating evaluations published by ICRA Limited.
Executive Statements
"According to officials familiar with the township’s master plan, the addition of Phase 2 matches the company's long-term corporate vision to deliver premium, integrated lifestyle spaces in key micro-markets. Management stated that the combination of natural forest backdrops with robust, multi-modal urban transport connectivity ensures sustained capital value appreciation for prospective buyers while strengthening the brand's premium residential footprint in Mumbai."
Why It Matters
For urban consumers and affluent homebuyers, the launch provides immediate access to structured, master-planned housing inventory backed by a developer with a solid delivery track record. Integrated townships insulate families from traditional city infrastructure issues by consolidating educational, shopping, and green recreational assets inside a singular, secured environment. For the broader real estate market, a premium residential launch of this scale demonstrates that consumer confidence remains firm within the premium real estate segments, encouraging ongoing institutional capital investments in multi-phase urban renewal infrastructure.
Key Facts at a Glance
Total Phase Value: The launch carries an estimated Gross Development Value (GDV) of approximately 2,200 crore rupees.
Inventory Scale: Introduces exactly 500 premium units across Towers C (partial) and Tower D.
Dimensional Footprint: Spans approximately 1.7 million square feet of total developable area, with RERA carpet sizes up to 2,643 sq. ft.
Starting Price Capital: Market ticket sizes for the three and four-bedroom layouts commence near 2.73 crore rupees.
Township Scale: Formally sits inside a massive, fully integrated 32-acre urban township ecosystem in Mulund West.
Frequently Asked Questions (FAQ)
What specific towers are included in Phase 2 of Prestige Forest Hills?
Phase 2 consists of a newly opened part of Tower C along with the complete launch of Tower D, adding 500 luxury units to the project footprint.
What are the starting ticket sizes and apartment configurations?
The project exclusively offers large-format 3 and 4-BHK homes featuring private decks, with unit sizes starting from 946 sq. ft. and baseline pricing beginning at roughly 2.73 crore rupees.
Where can shareholders monitor Prestige Estates' regulatory filings?
The complete historical archive of statutory SEBI filings, financial data sheets, and official corporate press circulars can be verified via the public terminal repositories of the National Stock Exchange of India and the Bombay Stock Exchange.
Sources: Regulatory compliance disclosures filed with the National Stock Exchange of India and the Bombay Stock Exchange, supported by official rating disclosures published by ICRA Limited.
