Prestige Estates acquires 100% stake in Allure Developers for Noida housing project

Resumen detallado

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

Prestige Estates Projects Ltd has acquired a 100% stake in Allure Developers Private Limited, which is undertaking the development of a residential project in Sector 150, Noida, Uttar Pradesh.

The company entered into a share purchase agreement on November 6, according to a regulatory filing with stock exchanges. Following the acquisition, Allure Developers has become a wholly owned subsidiary of Prestige Estates.

The acquisition will be completed through a cash consideration, with Prestige Estates set to pay up to ₹523.76 crore in tranches. The transaction is expected to be completed within seven working days.

Allure Developers is a real estate development company incorporated in 2013. It reported a turnover of ₹12.3 lakh in FY26, compared with ₹1 lakh each in FY25 and FY24.

Inicio del artículo, extracto de CNBC-TV18. Para leer el resto, abra el artículo en el sitio del medio.