Prestige Estates buys all of Allure Developers for Rs 524 crore

what happened

Indian realty company Prestige Estates Projects has bought all of Allure Developers for Rs 524 crore, extending its footprint in the Delhi-NCR region, according to Moody's. The regulatory filing says the share purchase agreement was signed on November 6, 2026, and Allure is now a fully owned subsidiary. Allure is building a housing project in Noida's Sector 150, and payments will be made in installments, with the total reaching up to Rs 5,23.76 crore as stated.

This is the second acquisition the company has announced recently. Earlier it bought Gloind Vintage Infra for an enterprise value of Rs 519 crore via its Prestige Retail Ventures unit, which brings a Bengaluru shopping mall owned by Tarun Realtors under its control.

Separately, net profit for the September quarter dropped 44% to Rs 256.2 crore from Rs 457.4 crore a year earlier. Total income slid to Rs 2,222.2 crore from Rs 2,697.8 crore. For the first half of the fiscal year, profit reached Rs 527.6 crore versus Rs 768.9 crore.

why it matters

For investors, the report combines a modest expansion with a sharp earnings slowdown. Profit and revenue both fell in the second quarter and first half, which weighs on sentiment toward the stock, while the deals add projects in Noida and Bengaluru to the portfolio. How much these assets add to earnings will determine whether the growth story holds up.

market impact

Prestige Estates shares: profit drop weighs on the stock, while acquisitions expand the portfolio

• ▼Prestige Estates shares pressure down — quarterly profit and total income fell sharply

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