Prestige Estates launches residential project in Whitefield, Bengaluru

Prestige Estates Projects Ltd has announced the launch of its new residential project – Prestige Somerville – in Whitefield, Bengaluru.

According to the company’s statement, the project comprises 306 apartments across two high-rise towers spread over 6.5 acres of land and has a revenue potential of ₹800 crore. It also has about 1 lakh sq ft of open and green spaces.

• Also read: Prestige Estates Projects reports Q3 profit of ₹165 crore

The company recently reported its standalone net profit for the quarter ended December 2023 at ₹11.1 crore, compared to ₹138.2 crore in the corresponding quarter ended in December 2022.

Prestige Estates Projects stock traded at ₹1,181 on the NSE, down by 1.20 per cent as of 10:08 am.