Prestige Group acquires Allure Developers for ₹524 cr

Realty firm Prestige Estates Projects Ltd has acquired a 100 per cent stake in Allure Developers for Rs 524 crore as part of its expansion plan in Delhi-NCR.

In a regulatory filing, Prestige Estates said it has entered into a share purchase agreement on November 6, 2026, to acquire a 100 per cent stake in Allure Developers Pvt Ltd.

With this acquisition, Allure has become a wholly owned subsidiary of the company.

Allure is undertaking development of a residential project in Noida Sector 150.

The company will pay consideration in tranches of up to Rs 5,23.76 crore.

Recently, Prestige Estates Projects acquired 100 per cent equity of Gloind Vintage Infra for an enterprise value of Rs 519 crore through its subsidiary Prestige Retail Ventures.

Upon completion of the deal, Prestige Estates will indirectly hold Gloind's equity share capital.

It will also have indirect ownership and control of 100 per cent of Tarun Realtors, a subsidiary of Gloind Vintage Infra.

Tarun Realtors owns a shopping mall in Bengaluru.

Prestige Group is one of the leading real estate developers in the country.

It has a presence across major cities of India.

The company reported a 44% decline in its consolidated net profit to Rs 256.2 crore for the quarter ended September.

Its net profit stood at Rs 457.4 crore in the year-ago period.

The company's total income fell to Rs 2,222.2 crore in the second quarter of this fiscal from Rs 2,697.8 crore in the corresponding period of the preceding year, according to a regulatory filing.

During the April-September period of this fiscal, the company's profit declined to Rs 527.6 crore from Rs 768.9 crore in the year-ago period.

The total income fell to Rs 5,057.8 crore in the first half of this fiscal from Rs 5,166.5 crore in the corresponding period of the preceding year.