Prestige Estates acquires Gloind Vintage Infra at Rs 519 crore enterprise value
Prestige Estates Projects said in an NSE filing that its subsidiary acquired 100% of Gloind Vintage Infra, and through it Tarun Realtors, for cash at a gross enterprise value of about Rs 519 crore.
Key points
- Prestige Estates Projects said in an NSE filing that its subsidiary bought 100% of Gloind Vintage Infra Private Limited on 3 November 2026.
- The filing puts the gross enterprise value at approximately Rs 519 crore, paid in cash, with completion on or prior to 12 November 2026.
- Gloind owns Tarun Realtors, so Prestige Estates will indirectly hold 100% of both; the filing says no regulatory approval is needed.
Prestige Estates Projects Limited said in a filing with the National Stock Exchange on 3 November 2026 that its wholly owned subsidiary has acquired 100% of the equity share capital of Gloind Vintage Infra Private Limited. The filing puts the gross enterprise value of the deal at approximately Rs 519 crore, payable in cash.
What Happened
According to the company's filing with the National Stock Exchange, Prestige Retail Ventures Limited, a wholly owned subsidiary of Prestige Estates, acquired the entire equity of Gloind on 3 November 2026 under a Securities Purchase Agreement of the same date. The sellers were DSFF Series 2, a scheme of Dickey Special Situation Investment Trust, and an individual.
With the purchase, Gloind has become a wholly owned step-down subsidiary of Prestige Estates. Gloind in turn owns all of Tarun Realtors Private Limited, so the company will also indirectly own and control 100% of Tarun Realtors. The filing says both businesses are in real estate development and construction.
The filing gives these figures for the target. Gloind was incorporated on 3 April 2025 and had nil turnover and a net worth of Rs 0.04 million in 2025-26. Tarun Realtors, incorporated in 2004, had turnover of Rs 0.81 million (Rs 8.1 lakh) and a net worth of Rs 819.03 million (about Rs 81.9 crore) in 2025-26. Its turnover was Rs 1.49 million in 2024-25 and Rs 1.34 million in 2023-24.
On price, the filing says the gross enterprise value is approximately Rs 519 crore and that equity shares are being bought at Rs 5,00,000. The consideration is cash.
The company said the transaction is not a related party transaction and that its promoter and promoter group have no interest in it. No government or regulatory approval is required. The filing gives the objects of the deal only as "business reasons" for acquiring the target and its subsidiary. It also says the transaction "will be consummated on or prior to 12 November 2026", even though it reports the acquisition as having taken place on 3 November 2026; it does not explain the difference.
What It Means
For readers who follow the company, the filing shows that Prestige Estates is adding two real estate and construction entities to its group through a subsidiary. The gap between the small net worth and turnover the filing reports for the targets and the Rs 519 crore enterprise value is not explained in the filing, and the filing does not say what projects, land or assets the two companies hold.
The filing does not say how the deal will be funded beyond calling it a cash consideration, and it gives no expected effect on the company's own results. It also does not say when the transaction will formally close beyond the 12 November 2026 outer date. Readers should look to the company's later disclosures to the National Stock Exchange for any further detail on the acquired businesses.
Oquilia Data: Prestige Estates Projects Ltd. (NSE: PRESTIGE)
| Close, 3 Nov 2026 | Rs 1,537.00 (+3.89% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | +3.43% / −7.96% / +8.67% / −3.62% / −13.69% |
| Against Nifty 50, 1M / 3M / YTD | −2.77 / −4.08 / +5.25 points |
| 52-week closing high / low | Rs 1,758.60 (11 Nov 2025) / Rs 1,126.50 (30 Mar 2026) |
| Turnover, 20-session average | Rs 61.05 cr; 55.9% delivered; latest volume 1.1x |
Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.
Full record: Prestige Estates Projects share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India