Shares of Prestige Estates Projects Ltd surged 4% on 26 September after the company announced the launch of the company’s residential project in Whitefield, Bengaluru’s Prestige Pine Forest.

Situated on 9 acres of land, the property has the potential to generate sales revenue of Rs 1,100 crore.

Praveer Shrivastava, Sr. Executive VP- Residential, Prestige Group, siad, “We are delighted to unveil Prestige Group’s latest architectural marvel that exemplifies our commitment to luxury, comfort, and convenience. This project redefines the benchmark for quality and craftsmanship and is a testament to our relentless commitment to delivering experiences.”

Praveer added that the project is located at a prime location and has cutting-edge design, and an array of top notch amenities. Prestige Pine Forest is poised to establish itself as the most coveted residential community in Bangalore.

The business recently opened Prestige Raintree Park, which spans 21 acres and has a potential turnover of Rs 5,000 crore. It has a stunning view of Varthur Lake and is in a prime Whitefield location.

However, at 11:49 am, the shares of Prestige Estates shed all their early gains and were trading 1.35% lower at Rs 1,815.35 on NSE.

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