The deal makes Allure Developers a wholly owned subsidiary of Prestige Estates Projects Ltd as it targets growth in the Delhi-NCR market. This residential acquisition follows another major deal where Prestige absorbed Gloind Vintage Infra to take indirect control of a Bengaluru shopping mall. The rapid corporate acquisitions are proceeding despite a noticeable downturn in the builder's consolidated financial results. For the September quarter, net profit dropped 44 per cent to Rs 256.2 crore amid lower total income.
Key points
Prestige Estates is actively expanding its national footprint by adding key commercial an…: Prestige Estates is actively expanding its national footprint by adding key commercial and residential assets through strategic acquisitions.
The company is deploying substantial capital toward land and projects despite recording a…: The company is deploying substantial capital toward land and projects despite recording a sharp drop in second-quarter profits.
Total consolidated income fell to Rs 2,222.2 crore during the second quarter, marking a b…: Total consolidated income fell to Rs 2,222.2 crore during the second quarter, marking a broad slowdown across the first half.
Sources checked by our analysis pipeline: 1
New Delhi: Realty firm Prestige Estates Projects Ltd has acquired a 100 per cent stake in Allure Developers for Rs 524 crore as part of its expansion plan in Delhi-NCR.
In a regulatory filing, Prestige Estates said it has entered into a share purchase agreement on November 6, 2026, to acquire a 100 per cent stake in Allure Developers Pvt Ltd.
With this acquisition, Allure has become a wholly owned subsidiary of the company.
Allure is undertaking development of a residential project in Noida Sector 150.
The company will pay consideration in tranches of up to Rs 5,23.76 crore.
Recently, Prestige Estates Projects acquired 100 per cent equity of Gloind Vintage Infra for an enterprise value of Rs 519 crore through its subsidiary Prestige Retail Ventures.
Upon completion of the deal, Prestige Estates will indirectly hold Gloind's equity share capital.
It will also have indirect ownership and control of 100 per cent of Tarun Realtors, a subsidiary of Gloind Vintage Infra.
Tarun Realtors owns a shopping mall in Bengaluru.
Prestige Group is one of the leading real estate developers in…
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