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Prestige Estates acquires Noida-based Allure Developers for ₹523.76 crore
Sentiment: NeutralHigh Priority
What Happened?
Prestige Estates Projects Ltd has acquired a 100% stake in Allure Developers, which is developing a residential project in Noida. The acquisition, valued at ₹523.76 crore, was finalized on November 6.
Key points
- The acquisition will be completed within seven working days.
- Allure Developers became a wholly owned subsidiary of Prestige Estates.
- Allure Developers reported a turnover of ₹12.3 lakh in FY26.
- Prestige Estates reported a 15.3% decline in revenue to ₹2,060.2 crore in Q2FY27.
- Net profit for Prestige Estates fell 44% to ₹256.2 crore in Q2FY27.
Key insights
- The acquisition may lead to increased competition in the Noida real estate market.
- Prestige Estates might leverage Allure's existing projects to boost its portfolio.
- This move reflects Prestige's strategy to strengthen its foothold in the NCR.
Why it matters
This acquisition could enhance Prestige Estates' market presence in the NCR region.
Entities
Prestige Estates Projects Ltd· CompanyAllure Developers Private Limited· CompanyNoida· City
Source
Business Standard
