Prestige Estates Projects buys 100% of Allure Developers for up to ₹524 crore

Prestige Estates Projects (NSE: PRESTIGE) has entered into a Share Purchase Agreement to acquire 100% stake in Allure Developers Private Limited, with cash consideration of up to ₹524 crore in tranches, it said in a filing on 06 Nov 2026. Allure is developing a residential project in Noida, NCR.

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The acquisition in numbers

What Allure does and where its project is

Allure Developers Private Limited is a private limited company incorporated in 2013 and in the business of real estate development. The filing says it is undertaking development of a residential project at Sector 150, Noida, Uttar Pradesh, and that the objects of the acquisition are to develop that project.

The company says that with this acquisition Allure has become a wholly owned subsidiary of Prestige Estates Projects.

Consideration against Allure's reported turnover

The maximum consideration of ₹523.76 crore is large against Allure's reported turnover, which was ₹12.3 lakh in FY 2025-26, ₹1 lakh in FY 2024-25 and ₹1 lakh in FY 2023-24. The filing does not give Allure's assets, liabilities, net worth or profit, so the turnover is the only financial figure it reports.

Against Prestige's latest reported quarter, total income of ₹2,222.20 crore for Q2 FY27, the maximum consideration is a fraction of one quarter's income. The filing does not say how the price was arrived at.

What the Allure acquisition means for Prestige Estates Projects' shareholders

Prestige gains a wholly owned real estate subsidiary with one residential project in Noida, and it will pay cash in tranches of up to ₹523.76 crore. The filing does not say the reason for the acquisition, who the seller is, how the tranches are scheduled, or what the deal does to Prestige's results or finances.

The next dated step is completion, which the filing says will be consummated on or before 7 working days. The filing does not give a completion date.