Prestige Group Sells Rs 1,300 Crore Worth of Luxury Homes in South Mumbai Pre-Launch
Prestige Group has posted a landmark number in Mumbai's ultra-luxury housing market. The group has sold apartments worth Rs.1300 crores under its project launched in South Mumbai, Prestige Ocean Towers, a pre-launched 2-acre project which has 169 residences. These figures were attained within the first three months of pre-launch, the company said.
The project sits at one of the most photographed addresses in the country. Prestige Ocean Towers is located bang on Marine Lines, famous for the Queen's Necklace, with Arabian Sea frontage. Scattered on a 2-acre area, the development offers views of both the Arabian Sea and the Queen's Necklace. The development stands as an epitome of luxury living with just 169 canvas residences across two towers nestled in a sprawling 2-acre plot.
The scale of the opportunity is what makes the numbers striking. The developable area stands at 4.62 lakh sq ft carpet area, with a revenue potential of nearly Rs. 4,100 crore. Of this, Prestige Group pre-launched 75 residences with a potential of Rs 1700 cr and has sold more than 70% of the pre-launched residences even before the official opening of the experience centre and show apartment.
The design pedigree behind the project is part of its pull. The tremendous response reflects the trust in the brand and the strength of the product, which is a Norman Foster architecture marvel designed along with Architect Hafeez Contractor. It was designed by Norman Foster Architecture, Hafeez Contractor, and HBA London. The development offers a multi-level podium with an infinity pool, lounge, and well-planned parking lots.
Management has been vocal about the response. Irfan Razack, CMD, Prestige Group said, "This will be one of the most iconic luxury developments in the country and we would like to thank our customers, partners, stakeholders and well-wishers for the constant support and trust in us. This encourages us to launch the remaining inventory at Prestige Ocean Towers sooner than we anticipated." Tariq Ahmed, CEO of West, Prestige Group, added that the property "embodies opulence, serenity and an unparalleled living experience in Mumbai as we bring a legacy of excellence to the city of dreams."
This isn't Prestige's first success story in the city. Bengaluru-based Prestige Group entered Mumbai just two years back and has already sold close to Rs 6,000 crore worth of inventory. This portfolio spans Prestige City in Mulund, Prestige Jasdan Classic in Mahalaxmi, Prestige Daffodils in Bandra and Prestige Ocean Towers in Marine Lines. The company plans to add more prime land parcels to its Mumbai residential portfolio, building on its existing commercial presence in locations like BKC and Mahalaxmi.
Price movement on the ground confirms the demand pressure. During Q4'2025, average property prices for Prestige Ocean Towers moved from Rs 83,100/sqft to Rs 100,250/sqft, a 20.64% rise, following a 45.53% rise the previous quarter. Construction is progressing in step with sales momentum, with structural works reaching 25% completion as of early 2026. Wider market data backs the broader trend: institutional investments in Mumbai's real estate market have crossed USD 1.2 billion in the first nine months of 2025, signaling a strong recovery and reinforcing its position as an attractive market for global and domestic capital.
For homebuyers watching the South Mumbai luxury segment, the takeaway is straightforward: unsold inventory at Prestige Ocean Towers is shrinking fast, and per-square-foot rates are climbing quarter on quarter. Anyone evaluating a 4 or 5 BHK sea-facing residence on Marine Lines is now working against both limited stock and a rising price curve.
