Prestige Acquires Allure Developers for ₹523.76 Crore

In a strategic move to strengthen its residential portfolio in NCR, Prestige Estates Projects has acquired 100% equity in Allure Developers for a total consideration of up to ₹523.76 crore, payable in multiple tranches. Following the execution of the share purchase agreement, Allure Developers operates as a wholly-owned subsidiary of Prestige, bringing a major housing project in Sector 150, Noida under the group's banner. In a concurrent expansion, Prestige Estates also secured 100% equity in Gloind Vintage Infra via its subsidiary, Prestige Retail Ventures.

News by Rahul Yelligetti.