Prestige Group shifts focus to mid-income housing despite rising luxury surge

Prestige Group believes that while luxury homes cater to only niche buyers, better volume growth will come from the affordable segments. So they have planned to build affordable homes to meet the demands of a wide buyer base.

In a pricey real estate market such as Mumbai, the builder is looking for land in Navi Mumbai and Thane to develop mid income projects. In the recent July to September quarter of 2025, sales across India’s 7 top cities declined by 9% year on year. The overall value of houses rose by 14% which was driven by the luxury segment demand.

In 2025 to 2026, Prestige Group aims to clock around Rs. 27,000 crores of sales in the housing sector.  There were Rs. 17,023 crores of housing sales in FY25.

In the April to June quarter of 2025, Prestige reported the highest sales among other developers at Rs 12,126 crore. It was driven by high-ticket project launches like Prestige Evergreen in Bengaluru and a strong performance in the NCR.

They have launched ultra luxury projects such as Nautilus in Mumbai in 2025 which had huge sales. But they believe that only mid income projects will give high sales volumes. Irfan Razack, the MD of Prestige Group, said, “We have a noteworthy launch pipeline, with a mix of luxury and budget friendly housing projects for different kinds of buyers.”

In the present October-December quarter, Prestige has lined up a new project in the Dahisar area of Mumbai. The project will feature flats of compact size that will sell at Rs. 1.7 to 1.8 crores.

Prestige is targeting buyers who wish to invest in lower price properties. In Mumbai, approval costs are already high, and so the prices are also higher. It is tough for Prestige Group to build and sell anything below the fixed price range.

Also, Prestige plans to launch affordable homes in its new launch project in Bangalore. At the upcoming Prestige Evergreen project, Prestige will launch Rs 1.5 to 2.5 crore units, where it has sold Rs 4 to 5 crores homes. It is because there is demand for small ticket size flats.

Mid income plotted project from Prestige

Prestige has also launched multiple plotted projects with a gross development value of over Rs 3,500 crores for the first time that spans over 100 acres. As there is a high demand for plots, with an idea for investment along with the option of building a dream house, many people are preferring it. So, Prestige is planning to launch more plotted projects in Chennai, Hyderabad, and Bangalore.

Prestige is also planning to launch one of its big projects in Worli locality in Mumbai apart from its mid income houses named “Prestige Palace”. The project will span over 17 acres in Jijamata Nagar, in partnership with Valour Estate Ltd. It will be a mixed use township with luxury flats, a Waldorf Astoria hotel, retail space, and a Hilton hotel.

High labour and building costs, combined with increasing land prices, have resulted in increased property prices. But Razack confirmed that prices will not go up too much after this. While sales and new launches are increasing at a rapid rate, execution and delivery of new launch projects will be key.

Prestige Group prelaunch project is Prestige Evergreen.