Real estate developer Prestige Estates Projects Ltd has entered into a share purchase agreement to acquire a 100% stake in Allure Developers Private Ltd for a cash consideration of up to ₹523.76 crore. Following the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates.
The acquisition will enable Prestige Estates to take forward the development of a residential project at Sector 150 in Noida, Uttar Pradesh, according to a regulatory filing by the company.
Prestige Estates will pay the acquisition consideration in tranches, with the total amount reaching up to ₹5,237.6 million (₹523.76 crore). The company expects to complete the transaction within seven working days from the agreement date.
Incorporated in 2013, Allure Developers is a private limited company engaged in real estate development. The company’s turnover stood at ₹1.23 million (₹12.3 lakh) in FY26, compared with ₹0.1 million (₹1 lakh) in FY25 and ₹0.1 million (₹1 lakh) in FY24.
Prestige Estates clarified that the transaction does not qualify as a related-party transaction. Furthermore, neither the company’s promoters nor its promoter group have any interest in the acquisition. The company also confirmed that the transaction does not require any governmental or regulatory approvals.
The acquisition covers 100% of Allure Developers’ shareholding and involves cash consideration. Prestige Estates and Allure Developers executed the share purchase agreement on November 6, 2026, with the transaction expected to conclude within the stipulated timeline.
