According to reports from CNBC TV18 and Business Standard, Prestige Estates Projects announced the launch of Prestige Parklane, a new residential development in Bengaluru's Devanahalli with an estimated gross development value (GDV) of ₹1,750 crore. The project is spread across 11.91 acres along the Satellite Town Ring Road (STRR) in Devanahalli and will comprise 1,788 homes across nine towers. Prestige Parklane will offer a mix of 1-, 2- and 3-bedroom homes and has a total saleable area of approximately 1.7 million square feet. As reported by CNBC TV18, the project marks the group's entry into the STRR-Devanahalli micro-market and is aimed at homebuyers looking for residential options in the area.
In a regulatory filing on Friday, Prestige Estates Projects announced the launch of a second housing project comprising 655 premium apartments across 10 acres with an estimated revenue potential of ₹1,100 crore. The second project has a total saleable area of 0.93 million square feet and represents the company's continued expansion in the Bengaluru market. According to the company's latest disclosure, these two projects together have a combined revenue potential of ₹2,850 crore, demonstrating the group's significant development pipeline in the city.
As reported by CNBC TV18 and Business Standard, the project is located around two minutes from the STRR and will include around 4 acres of central landscaped greens and a 30,000-square-foot clubhouse. The clubhouse will feature comprehensive amenities including a business centre, guest rooms, two double-height badminton courts, gym, spa, creche, pharmacy, convenience store, salon, party hall and a rooftop viewing deck. The project benefits from its position within one of Bengaluru's rapidly developing growth corridors, with access to the wider northern Bengaluru region and the city's expanding infrastructure network. According to CNBC TV18, the development is strategically located to capitalize on the region's expanding infrastructure network and improving connectivity.
According to the company's exchange filing reported by CNBC TV18, the project marks the group's entry into the STRR-Devanahalli micro-market and is aimed at homebuyers looking for residential options in the area. As of June 2026, Prestige Group had delivered 319 projects spanning 216 million square feet and had a pipeline of 137 projects across 229 million square feet. As reported by CNBC TV18, Irfan Razack, Chairman and Managing Director of Prestige Group, noted that the launch aligns with the group's strategy to bring development expertise to high-growth corridors supported by improving connectivity. The project is designed to cater to a broad segment of homebuyers in North Bengaluru through its comprehensive amenities and strategic location.
According to the latest press release from Prestige Estates Projects Limited, Mr. Irfan Razack, Chairman & Managing Director, Prestige Group, emphasized the strategic importance of the project for North Bengaluru's growth corridor. As reported by CNBC TV18, Razack stated that North Bengaluru continues to emerge as an important growth corridor, supported by expanding infrastructure and improving connectivity. The company believes the project will appeal to homebuyers looking for quality homes in a rapidly developing part of Bengaluru, combining strategic connectivity, varied home configurations, landscaped open spaces and extensive amenities. Prestige Group is one of India's leading and most diversified real estate developers with a legacy spanning four decades and a portfolio that includes residential, commercial, retail, hospitality, and integrated township projects across major cities.
