Prestige Estates Projects acquires Allure for Rs 523.76 crore

Prestige Estates Projects Limited disclosed on November 6, 2026 that it had acquired 100% of Allure Developers Private Limited for cash consideration of up to Rs 523.76 crore, making the Sector 150, Noida residential-project developer its wholly owned subsidiary. Allure reported turnover of Rs 12.3 lakh in FY 2025-26.

What has Prestige Estates Projects acquired from Allure?

Prestige Estates Projects has acquired 100% of Allure, a private limited real estate development company incorporated in 2013. The company said the transaction’s stated object is to develop a residential project at Sector 150, Noida, Uttar Pradesh, within the National Capital Region.

The November 6, 2026 disclosure identifies Allure as the entity undertaking the Noida residential development, rather than describing an acquisition of specified land parcels or housing units. It does not disclose the project area, number of units, construction stage, launch timing, booking value or expected completion date.

Prestige Estates Projects said that, with the acquisition, Allure had become its wholly owned subsidiary. The company made the disclosure under Regulation 30 of the Securities and Exchange Board of India, or SEBI, Listing Obligations and Disclosure Requirements Regulations, 2015.

How much will Prestige Estates Projects pay for Allure?

Prestige Estates Projects will pay cash consideration in tranches of up to Rs 523.76 crore for the 100% stake in Allure. The disclosed ceiling is based on consideration of up to INR 5,237.6 million, and the filing does not specify the amount or timing of individual tranches.

The use of “up to” means the filing sets a maximum consideration rather than stating that the entire Rs 523.76 crore has been paid. Prestige Estates Projects did not disclose a valuation method, final purchase price, share count, debt assumption, net assets, contingent-payment conditions or funding source.

Prestige Estates Projects said no governmental or regulatory approvals are required for the acquisition. It also said the transaction would be consummated on or before seven working days, although the same November 6, 2026 filing states that Allure had already become a wholly owned subsidiary.

How did Allure’s turnover change over three years?

Allure’s turnover rose to Rs 12.3 lakh in FY 2025-26 from Rs 1 lakh in FY 2024-25 and Rs 1 lakh in FY 2023-24. That represents an increase of Rs 11.3 lakh from FY 2024-25 to FY 2025-26, after no change between the two earlier reported years.

The three-year comparison concerns Allure’s reported turnover and does not establish the financial scale or development status of the Sector 150 project. The November 2026 filing does not provide Allure’s profit or loss, assets, liabilities, debt, inventory, customer advances, cash balance or project-specific revenue.

The filing also does not explain the relationship between Allure’s FY 2025-26 turnover of Rs 12.3 lakh and the maximum consideration of Rs 523.76 crore. It does not state whether the consideration reflects land rights, approvals, development potential, contractual rights or anticipated project economics.

Is the Allure acquisition a related-party transaction?

No, Prestige Estates Projects disclosed that the acquisition is not a related-party transaction and that its promoter or promoter group has no interest in it. The company recorded “Nil” for promoter or promoter-group interest in the November 6, 2026 annexure.

The consideration is cash, not shares or another non-cash form of payment. However, Prestige Estates Projects did not name Allure’s sellers, identify the pre-transaction shareholders, disclose the number of shares acquired or provide the material terms of the Share Purchase Agreement.

The disclosed structure establishes three points: Prestige Estates Projects is buying 100% of Allure, the consideration is cash in tranches, and no promoter or promoter-group interest was reported. The filing does not disclose payment triggers, warranties, indemnities or other agreement provisions.

What does the Noida acquisition add to Prestige Estates Projects?

The acquisition gives Prestige Estates Projects full ownership of the company undertaking a residential project in Sector 150, Noida. The company’s stated purpose is specifically to develop that Uttar Pradesh project, rather than to pursue an unspecified real estate development opportunity.

Prestige Estates Projects did not quantify expected sales, revenue, cash flow, unit additions or completion timing from the project in its November 6, 2026 disclosure. It also did not state whether construction has begun, whether homes have been sold or what project-level approvals have been obtained.

The absence of governmental or regulatory approvals in the filing applies to the acquisition transaction. It does not confirm the status of approvals for the residential development itself, because the company did not provide project-level regulatory information.

Conclusion

Prestige Estates Projects has taken full ownership of Allure, the developer undertaking a Sector 150, Noida residential project, with cash consideration capped at Rs 523.76 crore. Allure’s reported turnover increased from Rs 1 lakh in FY 2024-25 to Rs 12.3 lakh in FY 2025-26, while the filing leaves the basis of the consideration undisclosed.

The next disclosed item to watch is consummation on or before seven working days, as stated in the November 6, 2026 filing. Prestige Estates Projects has not disclosed a project launch, construction target, sales plan or completion date for Sector 150, so later company disclosures would be needed to clarify those matters.