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Prestige Estates Buys Allure Developers for Up to Rs 524 Crore

Prestige Estates has bought 100% of Allure Developers for up to Rs 523.76 crore, while its September-quarter net profit fell 44%, per Moody's.

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what happened

Real estate developer Prestige Estates has acquired a 100% stake in Allure Developers for up to Rs 523.76 crore, Moody's reports. Allure is building a residential project in Noida's Sector 150, adding to the company's presence in the Delhi-NCR market. The share purchase agreement was signed on November 6, 2026, and payments will be made in tranches. Once the deal closes, Allure becomes a wholly owned subsidiary of Prestige Estates.

The purchase follows the acquisition of 100% of Gloind Vintage Infra at an enterprise value of Rs 519 crore, carried out through its subsidiary Prestige Retail Ventures. Through that structure, the developer will gain indirect control of Tarun Realtors, which owns a shopping mall in Bengaluru.

At the same time, the company reported weaker results. Consolidated net profit for the September quarter fell 44% to Rs 256.2 crore from Rs 457.4 crore a year earlier. Total income dropped to Rs 2,222.2 crore from Rs 2,697.8 crore. For the April-September period, net profit declined to Rs 527.6 crore from Rs 768.9 crore.

why it matters

Large acquisitions alongside a 44% drop in profit make the picture mixed for investors: the portfolio is growing while current earnings are weakening. Payments in tranches will spread the cash impact of the deals over time.

market impact

Prestige Estates shares: the profit decline weighs on the stock, while the deals expand its portfolio.

  • Prestige Estates shares pressure down — quarterly net profit fell 44% as total income declined

tags

EarningsStockIndiaMergerAcquisition

instruments

Prestige EstatesIndian real estate stocks

sources

  1. Prestige Estates Takes Over Allure Developers In Rs 524 Cr Acquisition Deal — Moody's, 7 November 2026 at 13:01 UTC
  2. Prestige Estates Acquires Allure Developers For Rs 524 Cr — Moody's, 7 November 2026 at 13:01 UTC

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