Prestige Estates to acquire Allure Developers for ₹524 crore, to develop Noida project
Prestige Estates Projects has agreed to acquire 100% of Allure Developers for a cash consideration of up to ₹523.76 crore, making it a wholly owned subsidiary. Allure is undertaking a residential project at Sector 150 in Noida, and the transaction is expected to be completed within seven working days.
Realty firm Prestige Estates Projects Ltd on Friday said it has entered into a share purchase agreement to acquire a 100% stake in Allure Developers Private Ltd. for a cash consideration of up to ₹523.76 crore. With the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates.Allure Developers is undertaking the development of a residential project at Sector 150 in Noida, Uttar Pradesh. The acquisition is aimed at developing the residential project, the company said in a regulatory filing.Prestige Estates will pay the acquisition consideration in tranches of up to ₹5,237.6 million, equivalent to ₹523.76 crore.
The transaction is expected to be completed on or before seven working days.ALSO READ | Zydus Lifesciences Q2 Results: Shares fall after profit drops 27%, margins contractWhat we know about Allure DevelopersAllure Developers is a private limited company incorporated in 2013 and operates in the real estate development business. The company's turnover stood at ₹1.23 million in FY26, compared with ₹0.1 million in FY25 and ₹0.1 million in FY24.Prestige Estates said the acquisition does not fall under related-party transactions. The promoter and promoter group of Prestige Estates have no interest in the transaction.
The company also said no governmental or regulatory approvals are required for the acquisition.The acquisition involves 100% of the shareholding in Allure Developers and will be funded through cash consideration. The share purchase agreement was signed on November 6, 2026.ALSO READ | Explained - Why Zydus Life shares are down 2% but Bernstein sees nearly 30% upsideShares of Prestige Estates Projects Limited ended at ₹1,628.00, down by ₹4.45, or 0.27%, on the BSE.
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