Prestige Estates Projects Limited agreed Nov. 6 to acquire a 100% stake in Allure Developers Private Limited for up to Rs 5.2376 billion, identifying a residential project in Noida as the purchase’s purpose.
The share purchase agreement calls for cash consideration payable in tranches, according to Prestige’s exchange filing. It sets a maximum of Rs 5,237.6 million, equivalent to Rs 5.2376 billion. The filing does not say how much will ultimately be paid or how the installments will be scheduled, and it does not identify the sellers.
The filing names development of a residential project in Sector 150, Noida, Uttar Pradesh, as the acquisition objective. It separately says Allure is undertaking a residential project in Noida. It gives no project name, planned home count, construction timetable, sales schedule or projected returns, leaving the development’s scale and timing unspecified.
The disclosure gives two descriptions of the acquisition’s status. Its opening section says Allure has become a wholly owned subsidiary of Prestige, while an annexure says the transaction will be consummated “on or before 7 working days.” The filing gives no specific closing date or starting point for that period.
Allure was incorporated in 2013. It reported turnover of Rs 1.23 million in FY 2025-26, compared with Rs 0.1 million in each of FY 2024-25 and FY 2023-24, the filing says.
Prestige classified the deal as not a related-party transaction and said its promoter and promoter group have no interest in it. The filing marks government or regulatory approval requirements for the acquisition as “NA,” but does not specify approval status for the Noida project. It provides no further closing date beyond the annexure’s seven-working-day language.
