Prestige Estates launches luxury residential project in Whitefield

The real estate developer has announced the launch of its luxury residential project Prestige Pine Forest, which is located at Whitefield, Bangalore.

Prestige Pine Forest 316 residential units across four towers. The development is spread across 9 acres of land. The size of residences ranges from 2,442 square feet units to 3,556 square feet units. The project has a revenue potential of Rs 1,100 crore.

Prestige Estates Projects had recent launched another project in Whitefield Prestige Raintree Park. This development has a revenue potential of Rs 5,000 crore and features 1,520 residences across 18 towers. The development is spread across 21 acres of land.

Prestige Group, one of the leading real estate developers in the country, has a legacy of over three decades in real estate development. It has a diversified business model across various segments, viz residential, office, retail, hospitality, property management, and warehouses with operations in more than 13 major locations in India. The group has completed more than 300 projects spanning a developable area of 190 million square feet.

The companys consolidated net profit fell 12.85% to Rs 232.6 crore in Q1 FY25 as against Rs 266.9 crore recorded in Q1 FY24. Revenue from operations grew 10.78% year on year (YoY) to Rs 1,862.1 crore in the quarter ended 30 June 2024.

The scrip fell 1.20% to currently trade at Rs 1,818 on the BSE.

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