Prestige Estates Projects Ltd has acquired a 100 per cent stake in Allure Developers Pvt Ltd for up to Rs 523.76 crore, taking control of a residential project in Noida Sector 150 as the Bengaluru-based real estate company expands its presence in Delhi-NCR.
The transaction was formalised through a share purchase agreement signed on November 6, 2026, according to a regulatory filing by Prestige Estates. Following the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates.
The consideration will be paid in tranches and can total up to Rs 5,23.76 crore. The filing did not provide further details on the project’s development timeline, proposed housing supply, construction status or expected completion date.
Noida Sector 150 is a major residential development zone in the National Capital Region, with a mix of housing projects, planned open spaces and supporting urban infrastructure. Prestige’s acquisition gives the company direct ownership of the entity undertaking the project, rather than relying only on a joint development or brand-led arrangement.
The purchase is part of a wider expansion strategy by Prestige Estates in the Delhi-NCR market. The company has also recently acquired 100 per cent equity in Gloind Vintage Infra for an enterprise value of Rs 519 crore through its subsidiary Prestige Retail Ventures. On completion of that transaction, Prestige Estates will indirectly hold Gloind’s equity share capital and control Tarun Realtors, a Gloind subsidiary that owns a shopping mall in Bengaluru.
The two acquisitions cover different parts of the built environment: the Allure transaction is linked to residential development in Noida, while the Gloind deal gives Prestige indirect control of a retail asset in Bengaluru. Together, they reflect the company’s use of acquisitions to add development and operating assets across major urban markets.
The latest purchase comes as Prestige Estates reported weaker financial results for the quarter ended September. Its consolidated net profit fell 44 per cent to Rs 256.2 crore from Rs 457.4 crore in the corresponding quarter of the previous year, according to the company’s regulatory filing. Total income declined to Rs 2,222.2 crore from Rs 2,697.8 crore.
For the April-September period, consolidated net profit decreased to Rs 527.6 crore from Rs 768.9 crore a year earlier. Total income for the first half of the financial year fell to Rs 5,057.8 crore from Rs 5,166.5 crore.
The Noida acquisition will now place project execution, approvals, construction and eventual housing delivery within Prestige Estates’ subsidiary structure. The company has not disclosed additional project-specific details in the supplied filing. Further information on the project’s scale, launch schedule and implementation milestones will depend on subsequent regulatory disclosures or company announcements.
