Prestige Estates Projects Limited has announced the acquisition of a 100% stake in Allure Developers Private Limited, making it a wholly-owned subsidiary. Allure Developers is involved in the development of a residential project in Noida, NCR. The transaction, valued up to INR 5,237.6 million, was completed on November 6, 2026, bolstering Prestige’s project pipeline.
Prestige Estates Projects Acquires Full Stake in Allure Developers
Prestige Estates Projects Limited has officially acquired a 100% stake in Allure Developers Private Limited, a company now designated as its wholly-owned subsidiary. This strategic acquisition was formalized through a Share Purchase Agreement executed on November 6, 2026. The move is expected to significantly enhance the company’s development portfolio.
Strategic Rationale and Project Focus
Allure Developers Private Limited is primarily engaged in the business of real estate development. The acquired entity is currently undertaking the development of a residential project located at Sector 150, Noida, Uttar Pradesh. This acquisition aligns with Prestige Estates Projects’ growth strategy to expand its presence in key real estate markets and strengthen its project pipeline in the National Capital Region (NCR).
Transaction Details
The acquisition involves a cash consideration that will be paid in tranches, with the total payment not exceeding INR 5,237.6 million. The transaction is anticipated to be consummated within 7 working days from the announcement date. Allure Developers Private Limited was incorporated in 2013 and reported a turnover of INR 1.23 Million for the year ended March 31, 2026.
Future Outlook
The company’s projections for Allure Developers’ turnover indicate growth, with an estimated INR 0.1 Million for FY 2024-25 and FY 2025-26, followed by INR 1.23 Million for FY 2025-26. This acquisition is poised to contribute to Prestige Estates Projects’ overall revenue and market position in the burgeoning real estate sector.
Source: BSE
