Prestige Estates Projects Limited has announced the launch of Evergreen at Prestige Raintree Park, a premium residential development in Whitefield, Bengaluru, with an estimated gross development value of around Rs 50 billion.

Evergreen at Prestige Raintree Park is being developed across approximately 24 acres and will comprise nearly 2,000 apartments, with a total saleable area of about 3.2 million square feet, the company said in an exchange filing. The project will offer a mix of one, two, three and four-bedroom homes, catering to evolving urban lifestyle preferences and a wider spectrum of buyers. Apartment prices are expected to start from around Rs 9.2 million.

According to the filing, the launch of Evergreen follows the successful debut of Prestige Raintree Park in September 2024, which focused on larger-format residences and received a strong market response. With Evergreen, the Prestige Group is expanding the overall development by introducing a broader range of unit sizes, including smaller-format homes, aimed at enabling wider customer participation while maintaining a premium living experience.

Whitefield continues to be one of Bengaluru’s most sought-after residential micro-markets, supported by established IT hubs, strong social infrastructure and steadily improving connectivity. Commenting on the development, Irfan Razack, Chairman and Managing Director of Prestige Estates Projects Limited, said the project expands the product mix to address changing customer preferences in Whitefield.

He added that the project’s location at the junction of Whitefield and Varthur offers strong connectivity to key office hubs and proximity to established social infrastructure such as malls, schools and hospitals, positioning it for healthy demand.

The launch comes amid strong operational performance by the company in the third quarter of FY26. Prestige Estates reported a 39 per cent year-on-year rise in pre-sales to Rs 41.836 billion, while collections increased 40 per cent year-on-year to Rs 45.48 billion. Average realisations improved 6 per cent year-on-year to Rs 14,459 per square foot, supported by a higher share of premium projects. During the quarter, the company achieved sales volumes of 2.99 million square feet and sold 1,811 residential units.

Shares of Prestige Estates Projects Limited rose more than 3 per cent intraday to touch Rs 1,553.60 before closing at Rs 1,523.60, up 1.72 per cent from the previous close. Despite the day’s gains, the stock has declined 6.40 per cent over the past month, while delivering a 5.04 per cent return over the past year.