Prestige Estates buys Allure Developers for up to ₹523.76 crore
In short
Prestige Estates has signed a deal to buy 100% of Allure Developers for up to ₹523.76 crore. Allure is working on a housing project in Sector 150, Noida.
The deal could help Prestige Estates grow in Noida through an existing project.
What the reporting says
Prestige Estates has signed a deal to acquire a 100% stake in Noida-based Allure Developers for up to ₹523.76 crore. The target is developing a residential project in Sector 150, Noida. The reported transaction gives Prestige Estates entry into the project through an acquisition rather than a fresh launch.
Why it matters
Prestige Estates has signed an agreement to buy all of Allure Developers for up to ₹523.76 crore. Allure is developing a residential project in Noida’s Sector 150. The move links Prestige Estates to an ongoing project in the NCR market and adds residential development exposure through acquisition.