Mumbai High Court set aside an earlier Maharashtra real estate tribunal order against Prestige Estates' Mahalakshmi project, seen as a positive development for the stock

Thu 1 Oct 2026

Intraday loss before news

3 percent

Heard on Live TV News Channel between 11:36:04 - 11:39:04 IST.

• The Mumbai High Court set aside the Maharashtra RERA order concerning Prestige's DB project in Mahalakshmi, which had earlier been negative for the company.
• The project was initially launched as residential and later shifted to commercial use; the developer claimed consent of two-thirds of buyers for this change.
• The Maharashtra tribunal had earlier found that 13 of 14 consent letters were from buyers who had already exited the project.
• It now appears all parties have settled their disputes and claims, removing a litigation overhang on the premium Mahalakshmi project.
• The stock recovered almost half its intraday loss, having been down about 3% before the news.

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