Prestige Launches Evergreen at Raintree Park, Bengaluru, a ₹5,000 Crore GDV Project
Prestige Estates Projects Limited launched Evergreen at Prestige Raintree Park in Whitefield, Bengaluru. The project spans 24 acres, offering 2,000 apartments with a GDV of ₹5,000 crore. Prices start around ₹92 lakhs. This expands the previous Raintree Park offering with more unit configurations.
The launch of a large-scale residential project with a GDV of ₹5,000 crore is a material event for a real estate developer, significantly impacting revenue and market presence.
The launch of a new premium residential project with a significant GDV and positive commentary from the management indicates a favorable business development.
Prestige Estates Projects Limited has announced the launch of Evergreen at Prestige Raintree Park, a new premium residential development in Whitefield, Bengaluru. This project is planned on approximately 24 acres and will comprise around 2,000 apartments with a total saleable area of 3.2 million square feet.
The development offers a mix of one, two, three, and four-bedroom residences, with prices starting from approximately ₹92 lakhs. The estimated Gross Development Value (GDV) for Evergreen at Prestige Raintree Park is about ₹5,000 crores.
This launch follows the successful introduction of Prestige Raintree Park in September 2024. Evergreen expands the offering by including smaller-format homes to cater to a broader customer base while maintaining the premium living experience. Whitefield is highlighted as a sought-after residential micro-market due to its IT hubs, social infrastructure, and connectivity.
Mr. Irfan Razack, Chairman and Managing Director of Prestige Estates Projects Limited, stated that Evergreen builds on the positive response to the earlier Prestige Raintree Park. He emphasized the expanded product mix, strategic location, and strong connectivity to key office hubs and social infrastructure, positioning the project for healthy demand.
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Prestige Estates Projects Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Prestige Estates Projects Limited. Read the original for the full detail.