diff --git a/BUILD b/BUILD
index 1d777296ae3..ba6734037b0 100644
--- a/BUILD
+++ b/BUILD
@@ -79,7 +79,7 @@ g_stands_for = "galore"
 
 core_version = "11.0.0"
 
-version = "1.31.0-pre1"
+version = "1.31.0-pre2"
 
 GPR_PUBLIC_HDRS = [
     "include/grpc/support/alloc.h",
diff --git a/build_handwritten.yaml b/build_handwritten.yaml
index 2187d9ad499..172b876ad98 100644
--- a/build_handwritten.yaml
+++ b/build_handwritten.yaml
@@ -15,7 +15,7 @@ settings:
   core_version: 11.0.0
   csharp_major_version: 2
   g_stands_for: galore
-  version: 1.31.0-pre1
+  version: 1.31.0-pre2
 targets:
 - name: check_epollexclusive
   build: tool