Prestige Estates Projects has acquired a 100 per cent stake in Allure Developers, which is developing a residential project in Sector 150, Noida, Uttar Pradesh. The transaction is part of the real estate company’s expansion in the Delhi-NCR market and makes Allure Developers a wholly owned subsidiary of Prestige Estates Projects.

The companies entered into a share purchase agreement on November 6, according to a regulatory filing with the stock exchanges. Prestige Estates Projects will complete the acquisition through a cash consideration of up to Rs. 5.24 bn, payable in tranches. The transaction is scheduled to be completed within seven working days.

Allure Developers is a real estate development company incorporated in 2013. It reported turnover of Rs. 1.23 mn in FY26, compared with Rs. 0.1 mn in each of FY25 and FY24. The company is undertaking the residential development in Sector 150, an established growth area within Noida’s wider housing market.

Prestige Estates Projects said the transaction does not qualify as a related-party transaction. It also disclosed that neither its promoter nor the promoter group has any interest in the deal. No governmental or regulatory approvals are required for the acquisition.

The purchase expands Prestige Estates Projects’ presence beyond its existing markets and gives it control of a project in the National Capital Region. The filing did not provide details on the residential project’s development timeline, planned inventory, expected sales value or construction status. The company also did not disclose the specific ownership structure of Allure Developers before the acquisition.