Prestige Estates Projects Ltd has acquired a 100 per cent stake in Noida-based Allure Developers Private Limited for consideration of up to ₹523.76 crore, giving the Bengaluru-headquartered developer control of a residential project in Sector 150 and expanding its presence in the National Capital Region.
The share purchase agreement was signed on November 6, after which Allure Developers became a wholly owned subsidiary of Prestige Estates, according to a regulatory filing. The acquisition is scheduled to be completed within seven working days. The consideration will be paid in cash in tranches.
Allure Developers is developing a residential project in Sector 150, Noida. The private limited company was incorporated in 2013 and is engaged in real estate development. Its reported turnover was ₹12.3 lakh in FY26, compared with ₹1 lakh in each of FY25 and FY24.
The transaction gives Prestige Estates an entry point into one of Noida’s active residential development zones. Sector 150 has emerged as a major housing and mixed-use development area within the city, with projects being planned around a wider network of roads and urban infrastructure. The filing, however, does not disclose the project’s total development potential, launch schedule, number of homes, construction status or expected completion timeline.
The acquisition comes as large developers continue to use project-level purchases and corporate transactions to expand into new urban markets. By acquiring the company developing the project, Prestige Estates is taking control of the existing development vehicle rather than announcing a new greenfield project. The filing does not specify whether the transaction includes land, development rights, approvals or other project-linked assets beyond the acquisition of Allure Developers’ entire shareholding.
The deal also comes against a weaker recent operating performance for Prestige Estates. The company 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 quarter of the previous year. Its net profit fell 44 per cent to ₹256.2 crore from ₹457.4 crore in Q2FY26.
For Noida’s housing market, the immediate significance of the transaction will depend on how quickly the acquired project moves through construction, approvals and sales execution. The available filing confirms the ownership change and consideration but does not provide details on the project’s buyers, delivery commitments or financing structure. Prestige Estates’ next disclosed milestones are the completion of the acquisition within seven working days and any subsequent project updates or regulatory disclosures.
