News ArticlePrestige Estates Projects Acquires 100% Stake in Allure Developers to Develop Noida Residential Project
The company will pay up to INR 5,237.6 million in cash to complete the acquisition within seven working days
Prestige Estates Projects Limited has entered a share purchase agreement to acquire 100% ownership of Allure Developers Private Limited for up to INR 5,237.6 million in cash. The acquisition enables Prestige Estates to undertake a residential project in Sector 150, Noida, NCR. Allure Developers is a real estate development company incorporated in 2013, with a turnover of INR 1.23 million for the year ended March 31, 2026.
Prestige Estates Projects Limited
Acquisition / Amalgamation / Merger / Demerger
Prestige Estates Projects Limited has signed a share purchase agreement on November 6, 2026, acquiring full ownership of Allure Developers Private Limited, a real estate developer focused on a residential project in Noida, NCR, for a cash consideration of up to INR 5,237.6 million.
Allure Developers Private Limited, incorporated in 2013, is engaged in real estate development, specifically undertaking a residential project in Sector 150, Noida, Uttar Pradesh.
The acquisition was executed through a share purchase agreement, with the transaction expected to be completed within seven working days from November 6, 2026.
The consideration for the acquisition will be paid in cash in tranches, amounting to a total of INR 5,237.6 million.
Allure Developers reported turnover of INR 1.23 million for the financial year ending March 31, 2026, with minimal turnover in the prior two years.
This transaction is not considered a related party transaction, and there is no interest in the acquisition by the promoters or promoter group of Prestige Estates Projects Limited.
Highlights
- 100% shareholding in Allure Developers Private Limited acquired by Prestige Estates Projects Limited.
- Cash consideration up to INR 5,237.6 million to be paid in tranches for the acquisition.
- Allure Developers specializes in real estate development with an ongoing residential project in Noida Sector 150.
- No regulatory approvals are required for this acquisition.
- Transaction expected to close within seven working days from November 6, 2026.
Key Data Snapshot
What happened
- Prestige Estates Projects Limited signed a share purchase agreement to acquire 100% of Allure Developers Private Limited on November 6, 2026.
- Allure Developers has become a wholly owned subsidiary of Prestige Estates Projects Limited following this acquisition.
- The acquisition enables Prestige Estates to develop a residential project in Sector 150, Noida, NCR.
Key details
- The consideration will be paid in cash, up to INR 5,237.6 million, in multiple tranches.
- There is no promoter or promoter group interest involved in the transaction.
- No governmental or regulatory approvals are required for the acquisition.
- The transaction will be completed on or before seven working days from the agreement date.
Background and context
- Allure Developers Private Limited is a private limited company incorporated in 2013, specializing in real estate development.
- Last three fiscal years' turnover was minimal, with INR 1.23 million reported in FY 2025-26.
- The company's business focus is a residential project in Noida, NCR, which aligns with Prestige Estates' strategic interests.
Highlights
- 100% shareholding in Allure Developers Private Limited acquired by Prestige Estates Projects Limited.
- Cash consideration up to INR 5,237.6 million to be paid in tranches for the acquisition.
- Allure Developers specializes in real estate development with an ongoing residential project in Noida Sector 150.
- No regulatory approvals are required for this acquisition.
- Transaction expected to close within seven working days from November 6, 2026.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
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