Prestige Estates Projects Ltd has acquired a 100% stake in Allure Developers Private Limited, which is undertaking the development of a residential project in Sector 150, Noida, Uttar Pradesh.
The company entered into a share purchase agreement on November 6, according to a regulatory filing with stock exchanges. Following the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates.
The acquisition will be completed through a cash consideration, with Prestige Estates set to pay up to ₹523.76 crore in tranches. The transaction is expected to be completed within seven working days.
Allure Developers is a real estate development company incorporated in 2013. It reported a turnover of ₹12.3 lakh in FY26, compared with ₹1 lakh each in FY25 and FY24.
Prestige Estates said the transaction does not fall under related-party transactions and that its promoter and promoter group have no interest in the deal. No governmental or regulatory approvals are required for the acquisition.
Prestige Estates acquires 100% stake in Allure Developers for Noida housing project