Prestige Estates Acquires 100 Per Cent Stake in Allure Developers
Real Estate

Prestige Estates Acquires 100 Per Cent Stake in Allure Developers

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.

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.

Related Stories

Gold Stories

Next Story
Resources

Prateek Foundation Aakaar celebrates Diwali with children in Noida

Prateek Foundation Aakaar, the community initiative of Prateek Group, organised a Diwali celebration for children at Saikripa, Noida, on 4 November 2026. The one-hour programme brought together members of the foundation and children for an afternoon of creative and recreational activities.The celebration included diya painting, games and interactive sessions, with children designing and decorating diyas. The activities were aimed at encouraging creativity and providing an opportunity for the children to participate in the festive celebrations.Prateek Tiwari, Managing Director, Prateek Group, s..

Next Story
Equipment

Shakti Pumps signs MoU with ISA to expand solar water pumping

Shakti Pumps (India) signed a Memorandum of Understanding (MoU) with the International Solar Alliance (ISA) to strengthen international collaboration and accelerate the adoption of solar water pumping solutions. The agreement was signed by Ashish Khanna, Director General, ISA, and Ramesh Patidar, Managing Director, Shakti Pumps, alongside the ninth ISA Session at the Bharat Renewable Energy Summit and Expo (BRES) 2026, held at Bharat Mandapam, New Delhi.At the summit, Shakti Pumps showcased its integrated renewable energy portfolio, including solar pumping systems, rooftop solar solutions unde..

Next Story
Real Estate

Worli-Lower Parel gains ground as Mumbai’s commercial hub

Mumbai’s Worli-Lower Parel corridor is gaining prominence as a commercial and luxury residential destination, attracting financial institutions, technology companies and high-net-worth individuals. Infrastructure upgrades, including the Coastal Road and improved transit connectivity, are contributing to the shift in occupier interest from established business districts such as Bandra-Kurla Complex (BKC) and Nariman Point.Recent leasing transactions underline the corridor’s growing commercial appeal. At Marathon Futurex in Lower Parel, three financial firms leased a combined 28,976 sq ft at..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code