Prestige Estates Projects has launched Phase 2 of its Prestige Forest Hills project in Mulund, Mumbai. The launch includes 500 premium residences with an estimated Gross Development Value (GDV) of ₹2,200 crore.
Prestige Estates Launches Phase 2 of Mumbai Project
Prestige Estates Projects Ltd has launched Phase 2 of its Prestige Forest Hills project in Mulund, Mumbai. This phase includes Towers C (partially) and Tower D, adding 500 premium residences.
The project is part of 'The Prestige City, Mulund,' an integrated township. Phase 2, covering 6.5 acres, will feature four high-rise towers and over 50 lifestyle amenities. The developable area for this phase is 1.7 million sq. ft., with an estimated Gross Development Value (GDV) of ₹2,200 crore. The starting ticket price for these residences is ₹2.73 crore.
What just happened
Prestige Estates Projects has initiated the second phase of its Prestige Forest Hills development in Mulund, Mumbai. This launch comprises 500 premium residential units, contributing significantly to the project's overall revenue potential with an estimated GDV of ₹2,200 crore.
Why this matters
This launch underscores Prestige Estates' continued expansion in the key Mumbai market. It provides investors with a clear indicator of ongoing project execution and future revenue streams, reinforcing the company's development pipeline.
The backstory
Prestige Forest Hills is situated within a larger 32-acre integrated township in Mulund West. Phase 1 of Prestige Forest Hills, comprising Towers A and B, was previously launched in August 2024. The project is positioned to offer a blend of natural surroundings and urban convenience.
What changes now
The launch of Phase 2 adds substantial inventory to the market, with units offering 3 and 4 bedrooms. This move expands the company's revenue visibility and strengthens its presence in the Mumbai real estate landscape.
Risks to watch
Investors should closely monitor sales momentum and project completion timelines for this new phase. Market absorption rates and competitive pressures in the premium Mumbai housing segment are potential factors.
Peer comparison
Prestige Estates maintains a robust pipeline with 135 ongoing projects totaling 227 million sq. ft. This scale positions it among leading developers in India, though specific peer comparisons for this project would depend on concurrent launches by competitors in Mulund.
Context metrics (time-bound)
As of March 2026, Prestige Estates has delivered 316 projects spanning 212 million sq. ft. The current active development pipeline includes 135 projects covering 227 million sq. ft.
What to track next
Focus on sales bookings for Phase 2 units and the company's progress in executing its broader development pipeline across its operational regions.