Prestige Estates acquires Noida developer Allure in ₹523.76 crore deal

Prestige Estates Projects, one of South India's leading real estate developers, has announced the acquisition of 100 per cent equity in Allure Developers, a move that strengthens its footprint in the NCR market. The deal, structured at up to ₹523.76 crore, provides Prestige with control over Allure's ongoing residential project in Noida's Sector 150.

The acquisition reflects Prestige Estates' strategy to diversify its geographical presence beyond its traditional strongholds in Bangalore, Hyderabad, and Chennai. The NCR region, India's largest real estate market by volume, has become an increasingly attractive destination for major developers seeking to capitalize on housing demand across multiple price segments.

Allure Developers' Sector 150 project in Noida represents a significant asset addition to Prestige's portfolio. The acquisition provides the Bengaluru-based company operational control and development rights over the residential venture, enabling integration with its existing organizational capabilities and project delivery systems.

The transaction demonstrates continued consolidation within India's fragmented real estate sector, where larger developers are strategically acquiring regional players to accelerate market expansion and project completion timelines. Financial terms indicate a structured payment mechanism, with the total consideration capped at ₹523.76 crore subject to agreed milestones and performance metrics.