Prestige Estates acquires Noida-based Allure Developers for ₹523.76 crore

The Bengaluru-based developer has signed a deal to acquire a 100 per cent stake in Allure Developers, which is developing a residential project in Noida's Sector 150, for up to ₹523.76 crore

Bengaluru-based real estate developer Prestige Estates Projects Ltd has acquired a 100 per cent stake in Allure Developers Private Limited, which is developing a residential project in Sector 150, Noida, as it looks to expand its presence in the National Capital Region (NCR).

 

Prestige Estates entered into a share purchase agreement on November 6, following which Allure became its wholly owned subsidiary, according to a regulatory filing.

 

The acquisition will be completed within seven working days. The consideration, amounting to up to ₹523.76 crore, will be paid in cash in tranches.

 

Allure Developers is a private limited company incorporated in 2013 and is engaged in real estate development. It reported a turnover of ₹12.3 lakh in FY26, compared with ₹1 lakh each in FY25 and FY24.

 

 

Meanwhile, Prestige Estates reported a 15.3 per cent decline in revenue from operations to ₹2,060.2 crore in the September quarter of FY27, compared with ₹2,431.7 crore in the corresponding period last year.

 

Its net profit fell 44 per cent to ₹256.2 crore in Q2FY27, from ₹457.4 crore in Q2FY26.