Prestige buys Noida's Allure Developers in cash deal of up to ₹523.76 crore

Prestige Estates Projects Ltd, the Bengaluru-based listed arm of the Prestige Group, has agreed to buy the entire equity share capital of Allure Developers Private Limited, a company building a residential project in Sector 150, Noida. The share purchase agreement was signed on 6 November 2026, and the company disclosed it in a stock exchange filing under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

The maximum consideration is up to ₹523.76 crore, or ₹5,237.6 million. The company said it will pay in cash and in tranches. The word "up to" means the filing sets a ceiling and does not say the full amount has been paid. After the deal, Allure becomes a wholly owned subsidiary of Prestige Estates.

What the filing does and does not say

The company said the transaction is not a related-party deal and that its promoter and promoter group have no interest in it. It also said no government or regulatory approval is needed for the acquisition itself. The filing was expected to complete within seven working days of signing, but it does not give a calendar date for completion.

Several details are missing from the filing. It does not name Allure's sellers, the valuation method, the final purchase price, the number of shares, any debt assumed or the source of funds. It also does not give the amount or timing of each tranche.

On the project itself, the filing names no project, unit count, configuration, price band, launch date or completion date. It does not say whether construction has started. Some listings use the name Prestige Sector 150 Noida for a project in the sector, but the company has not confirmed that this is the Allure project, and no official Prestige page was found for it. Buyers should not treat that name as confirmed until the company or the regulator links it to Allure.

Where Sector 150 sits

Sector 150 lies along the Noida–Greater Noida Expressway and falls within the Noida Expressway micromarket, with PIN code 201304. The sector has direct frontage on the expressway and access to the FNG Expressway, the Yamuna Expressway and the DND Flyway. The nearest Aqua Line metro station is at Sector 148, a few kilometres away by road; sources give different distances, so check the exact distance before deciding.

The Noida Authority has approved a revised layout for a 300-acre Sports City project in Sector 150. The plan reserves 70% of that land for sports facilities, 29.5% for residential use and 0.5% for commercial use. Sources give different figures for the sector's total area, so that figure should be treated as unsettled. Jewar (Noida International Airport) is under construction further along the expressway, and its opening date has not been announced. Indira Gandhi International Airport in Delhi is about 38 km away.

Market data for 2026 puts apartment prices in Sector 150 at around ₹12,000 per sq ft on average. That is an average and not a price for any single project. No price has been announced for the Allure project.

What it means for buyers and investors

For buyers, the deal does not change what is on sale or when it can be booked. The filing gives no project-level sales or possession terms. For investors, the deal adds a developer with a Noida project to Prestige's Delhi-NCR portfolio. The company's disclosures show Allure's reported turnover at ₹12.3 lakh for FY 2025-26, up from ₹1 lakh in each of the two earlier years. That figure is small and does not indicate the size of the Sector 150 project.

A SEBI-registered research analyst said the deal could give Prestige another development opportunity in Noida. The same analyst named the items to watch: launch timelines, sales bookings, construction progress, the use of cash and the return on the investment. The company has not said how the deal will affect local supply or prices in the sector.

Prestige also bought 100% of Gloind Vintage Infra earlier, for an enterprise value of ₹519 crore, through its subsidiary Prestige Retail Ventures. The filing for the Noida deal does not give the funding source.

What to watch next

The next steps are the completion of the share transfer, the payment dates for each tranche and any launch announcement for the Sector 150 project. Buyers who are looking at the sector should wait for the company to name the project, publish its RERA registration and state a price and possession date.