Prestige Estates buys Allure Developers for ₹523.76 crore
Prestige Estates acquisition of Allure Developers for ₹523.76 crore gives builder control of a Noida project in Sector 150, boosting Delhi-NCR presence.
Bengaluru-based developer Prestige Estates Projects Limited has finalized plans to take full control of Allure Developers Private Limited, paying up to ₹523.76 crore as part of its growth plans in the Delhi-NCR real estate sector. The deal grants Prestige Estates oversight of Allure’s ongoing residential project located in Noida’s Sector 150.
The agreement, formalized through a share purchase deal on November 6, 2026, ensures Prestige will eventually own all equity shares of Allure Developers. Upon completion, the acquired firm will operate as a wholly owned subsidiary under Prestige’s umbrella. The total payment will be structured in installments.
This latest acquisition complements Prestige’s recent expansion into real estate and retail properties. Prestige Estates had also acquired 100 per cent equity in Gloind Vintage Infra for an enterprise value of ₹519 crore through its subsidiary, Prestige Retail Ventures. Following the completion of that transaction, Prestige Estates will indirectly hold the equity share capital of Gloind Vintage Infra and gain indirect ownership and control of its subsidiary, Tarun Realtors, which owns a shopping mall in Bengaluru.
Both transactions demonstrate Prestige’s strategy of strategic acquisitions to diversify its property holdings. While the Allure deal secures a residential development in Noida, the Gloind Vintage Infra purchase strengthens Prestige’s retail presence in Bengaluru.
Despite these moves, Prestige Estates reported weaker financial results in the first half of FY27. For the quarter ending September 2026, consolidated net profit dropped 44% to ₹256.2 crore, compared with ₹457.4 crore in the corresponding quarter of the previous year. Total income also fell to ₹2,222.2 crore compared to ₹2,697.8 crore year-over-year.
Over the April-September period of FY27, consolidated net profit declined further to ₹527.6 crore from ₹768.9 crore in the year-ago period. Total income for the first half stood at ₹5,057.8 crore, compared with ₹5,166.5 crore in the corresponding period last year.
As one of India’s leading real estate firms, Prestige operates across multiple cities with projects in residential, commercial, and retail sectors. These recent acquisitions enhance its development pipeline in the National Capital Region while expanding its retail assets in Bengaluru, reinforcing its market position.
