Shares of Prestige Estates Projects Ltd gained 3% after the company officially marked its entry into the National Capital Region (NCR) residential real estate market. As of 9:50 AM, the shares were trading 3.38% higher at Rs 1,426.70.
The move comes with the launch of the first phase of “The Prestige City – Indirapuram”, named Oakwood and Mulberry.
The initial phase comprises 3,421 residential units spread across 19 towers, offering a mix of 2 BHK, 3 BHK, 3 BHK + Home Office, and 4 BHK + Home Office apartments. The homes range in size from 1,681 sq. ft. to 6,026 sq. ft. The development is situated on a 62.5-acre land parcel in Indirapuram Extension along National Highway 24.
According to the company, Oakwood and Mulberry together represent a Gross Development Value (GDV) of over ₹9,000 crore, making it one of the largest real estate launches in the NCR. The upcoming second phase, titled “Mayflower”, is expected to increase the total GDV of the residential project to approximately ₹12,000 crore.
The project includes two clubhouses totaling 100,000 sq. ft. and an integrated Forum Mall with 1.18 million sq. ft. of retail and entertainment space.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
