PRESTIGEPrestige Estates Projects Ltd.
Prestige Estates Projects buys 100% of Gloind for ₹519 crore EV
- Mergers & acquisitions
- Real estate, construction and land development
Reviewed byKeshav SehgalBlacklitt Research
Prestige Estates Projects (NSE: PRESTIGE) has acquired 100% of the equity share capital of Gloind Vintage Infra Private Limited through its wholly owned subsidiary Prestige Retail Ventures Limited, for an approximate gross enterprise value of ₹519 crore, it said in a filing on 03 Nov 2026. The consideration is all cash, under a Securities Purchase Agreement dated 03 Nov 2026.
Key highlights
- Gross enterprise value: approximately ₹519 crore
- Equity share purchase price: ₹5 lakh
- Stake acquired: 100%, held indirectly through Prestige Retail Ventures
- Completion due on or before 12 Nov 2026
The acquisition in numbers
| Item | Detail |
|---|---|
| Target | Gloind Vintage Infra Private Limited |
| Buyer | Prestige Retail Ventures Limited, a wholly owned subsidiary |
| Sellers | DSFF Series 2, a scheme of Dickey Special Situation Investment Trust, and Jasbir Singh |
| Consideration | Cash |
| Gross enterprise value | Approximately ₹519 crore |
| Equity share purchase price | ₹5 lakh |
| Stake acquired | 100% |
| Completion | On or before 12 Nov 2026 |
What Gloind brings
Gloind was incorporated in India on 03 Apr 2025 and is in the business of real estate development and construction. Its registered office is at DLF City Court, Sector 25A, Gurgaon, Haryana.
Gloind reports nil turnover for FY 2025-26 and a net worth of ₹0.40 lakh. Its one subsidiary, Tarun Realtors Private Limited, is also in real estate development and construction. Tarun's turnover was ₹8.10 lakh in FY 2025-26, ₹14.90 lakh in FY 2024-25 and ₹13.40 lakh in FY 2023-24, and its net worth is ₹81.90 crore. Once the deal completes, the company will hold Tarun indirectly as well.
Size of the deal against the company
The gross enterprise value of approximately ₹519 crore is 0.8% of Prestige Estates Projects' market value of ₹66,199 crore at the 03 Nov 2026 close. The company's latest reported quarter, Q1 FY27 on a consolidated basis, showed total income of ₹2,835.60 crore and net profit of ₹271.40 crore.
No governmental or regulatory approvals are needed, according to the filing.
What the Gloind acquisition means for Prestige Estates Projects shareholders
The company gains indirect ownership of 100% of Gloind and, through it, of Tarun Realtors, for cash. The gross enterprise value is about 0.8% of the company's market value, and Gloind's reported turnover is nil.
Not stated: the total price paid to the sellers as distinct from the enterprise value, the debt or liabilities included in that value, the share paid to each seller, the projects or land Gloind holds, and any reason beyond "business reasons". The next dated step is completion on or before 12 Nov 2026.
Filed with BSE on . Reference: Original filing (PDF)
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