Prestige Estates Projects Limited has announced the acquisition of 100% of the equity share capital of Gloind Vintage Infra Private Limited through its wholly owned subsidiary, Prestige Retail Ventures Limited. This strategic move makes Gloind a step-down subsidiary, expanding the company’s footprint in the real estate development and construction sector. The acquisition is part of Prestige’s ongoing growth strategy, aiming to enhance its market presence and project portfolio.
Strategic Acquisition by Prestige Estates
Prestige Estates Projects Limited has completed a significant acquisition, reinforcing its commitment to expanding its presence in the real estate sector. On November 3, 2026, the company’s wholly owned subsidiary, Prestige Retail Ventures Limited (PRVL), successfully acquired 100% of the equity share capital of Gloind Vintage Infra Private Limited (“Gloind”). This transaction was executed with DSFF Series 2 and Mr. Jasbir Singh, as per a Securities Purchase Agreement dated the same day.
Impact of the Acquisition
With this acquisition, Gloind Vintage Infra Private Limited now stands as a wholly owned step-down subsidiary of Prestige Estates Projects Limited. The acquisition is strategically aimed at enhancing the company’s real estate development and construction capabilities. Gloind itself is a recently incorporated entity, established in 2025, with its primary business focused on real estate development and construction. Notably, Gloind wholly owns Tarun Realtors Private Limited, an entity incorporated in 2004, which also operates in the real estate development and construction sector.
Financial Details and Considerations
The transaction involved a cash consideration, with an approximate gross enterprise value of INR 519 crores. The purchase price for the equity shares amounted to INR 5,00,000 (Indian Rupees Five Lakhs). Upon completion, Prestige Estates Projects Limited, through PRVL, will indirectly hold 100% of Gloind’s equity share capital, and consequently, 100% ownership and control of Tarun Realtors Private Limited. Latest financial projections for FY 2025-26 indicate that Gloind Vintage Infra Private Limited has a turnover of Nil and a net worth of INR 0.04 Million. Conversely, Tarun Realtors Private Limited is projected to have a turnover of INR 0.81 Million and a net worth of INR 819.03 Million for the same period. The company has indicated that this is not a related party transaction and the promoter/promoter group has no interest in it. The acquisition is expected to be completed on or prior to November 12, 2026.
Source: BSE
