Realty firm expands Delhi-NCR footprint with acquisition of residential project in Noida Sector 150.
Prestige Estates Projects Ltd acquired Allure Developers for Rs 524 crore via a share purchase agreement to expand its presence in Delhi-NCR, taking over a Noida Sector 150 residential project.
AI-generated summary
Prestige Estates Projects Ltd is a major real estate developer in India expanding its footprint in Delhi-NCR.
Prestige Estates Projects Ltd has purchased a complete stake in Allure Developers for Rs 524 crore. The acquisition was finalized on November 6, 2026, in a share purchase agreement. Allure Developers is currently involved in developing a residential project located in Noida Sector 150. The company has made similar acquisitions, including Gloind Vintage Infra for Rs 519 crore.
New Delhi: Realty firm Prestige Estates Projects Ltd has acquired a 100 per cent stake in Allure Developers for Rs 524 crore as part of its expansion plan in Delhi-NCR.
In a regulatory filing, Prestige Estates said it has entered into a share purchase agreement on November 6, 2026, to acquire a 100 per cent stake in Allure Developers Pvt Ltd.
With this acquisition, Allure has become a wholly owned subsidiary of the company.
Allure is undertaking development of a residential project in Noida Sector 150.
The company will pay consideration in tranches of up to Rs 5,23.76 crore.
Recently, Prestige Estates Projects acquired 100 per cent equity of Gloind Vintage Infra for an enterprise value of Rs 519 crore through its subsidiary Prestige Retail Ventures.
Upon completion of the deal, Prestige Estates will indirectly hold Gloind's equity share capital.
It will also have indirect ownership and control of 100 per cent of Tarun Realtors, a subsidiary of Gloind Vintage Infra.
Tarun Realtors owns a shopping mall in Bengaluru.
Prestige Group is one of the leading real estate developers in the country.
It has a presence across major cities of India.
The company reported a 44 per cent decline in its consolidated net profit to Rs 256.2 crore for the quarter ended September.
Its net profit stood at Rs 457.4 crore in the year-ago period.
The company's total income fell to Rs 2,222.2 crore in the second quarter of this fiscal from Rs 2,697.8 crore in the corresponding period of the preceding year, according to a regulatory filing.
During the April-September period of this fiscal, the company's profit declined to Rs 527.6 crore from Rs 768.9 crore in the year-ago period.
The total income fell to Rs 5,057.8 crore in the first half of this fiscal from Rs 5,166.5 crore in the corresponding period of the preceding year.
Tony Simpson, Partner at Oliver Wyman, analyzes the IPL's need to expand beyond domestic broadcast-led models. He highlights the importance of international reach, grassroots development, and data-driven fan engagement for India to become a global sporting economy.
Railway Minister Ashwini Vaishnaw announced plans to expand seven major railway corridors to four tracks, enabling over 1,000 additional regular trains. The initiative aims to reduce congestion, alongside current festive measures including 18,000 special trains.
The Indian Petroleum Ministry refuted Karnataka's allegations of excessive ethanol in petrol, stating that tests of 893 samples, including 56 from Karnataka, confirm compliance with the 19-21% E20 standard. Oil companies questioned the state's testing methodology.
Amazon faces a $309.5 million settlement for failing to properly issue customer refunds. Eligible shoppers are divided into Subclass A, receiving automatic payments, and Subclass B, requiring a claim.
India's defence exports reached Rs 38,424 crore in 2025-26, driven by a surge in European ammunition demand due to the ongoing conflict in Ukraine.
State-run oil marketers IOC, BPCL, and HPCL have rejected Karnataka's claims that petrol in the state contained 26-31% ethanol, arguing the state's testing procedures lacked prescribed standards and proper verification.