Prestige Estates acquires Gloind Vintage Infra, gaining Bengaluru entity Tarun Realtors
Published
Prestige Estates Projects Ltd has acquired 100% of the equity of Gloind Vintage Infra Pvt Ltd, a Gurgaon-registered company, through its wholly owned subsidiary Prestige Retail Ventures. The company disclosed the transaction to the stock exchanges on 3 November 2026 under SEBI Regulation 30. The gross enterprise value of the deal is approximately Rs 519 crore, and the transaction was completed through a securities purchase agreement dated the same day.
The equity itself was acquired for a cash consideration of Rs 5 lakh. Completion is due on or before 12 November 2026. Through Gloind, the group gains indirect control of Tarun Realtors Pvt Ltd, a Bengaluru-based real estate entity incorporated in 2004, which is wholly owned by Gloind. Once the transaction closes, Gloind becomes a wholly owned step-down subsidiary of Prestige Estates Projects, and the group will indirectly own and control 100% of Tarun Realtors.
Deal terms and the companies involved
The shares of Gloind were bought from DSFF Series 2, a scheme of Dickey Special Situation Investment Trust, and from an individual, Mr. Jasbir Singh. Gloind was incorporated in April 2025 and is registered in Gurgaon, Haryana. Prestige Estates is headquartered at Prestige Falcon Towers in Bengaluru.
The key figures reported for the two companies are as follows:
- Gross enterprise value of the transaction: approximately Rs 519 crore
- Cash consideration for the equity of Gloind: Rs 5 lakh
- Gloind turnover in FY26: nil, with a net worth of Rs 0.0004 crore
- Tarun Realtors turnover in FY26: Rs 0.081 crore, against Rs 0.149 crore in FY25 and Rs 0.134 crore in FY24
- Tarun Realtors net worth in FY26: Rs 81.90 crore
The enterprise value of Rs 519 crore equals about 4.0% of Prestige Estates Projects' trailing 12-month revenue of Rs 13,054 crore and about 4.3% of its net worth, according to figures cited in market reports. The company stated that no government or regulatory approvals were required for the deal, and that the acquisition is not a related-party transaction. Neither the promoter nor the promoter group has an interest in it.
On the day of the announcement, Prestige Estates Projects shares closed at Rs 1,537 on the NSE, up 3.89%. The company is listed under the ticker PRESTIGE.
Bengaluru and the Tarun Realtors footprint
The acquisition brings a Bengaluru-registered real estate company into the Prestige group, adding to the city's role as the group's largest market. Bengaluru contributed 41 per cent of Prestige's residential pre-sales in the first half of FY27, ahead of Hyderabad at 32 per cent and Mumbai at 12 per cent. Earlier corporate records link Tarun Realtors to the Bengaluru-based Mantri Developers group, which held a significant stake in the company in its earlier years.
About Prestige Estates Projects
Prestige Estates Projects has delivered approximately 300 real estate projects covering around 180 million square feet across residential, office, retail, leisure and hospitality segments. Its development pipeline stands at 137 projects spanning 229 million square feet. Residential pre-sales rose 20% year on year to Rs 7,225 crore in the second quarter of FY27, taking first-half FY27 residential pre-sales to Rs 13,804.3 crore.
The group's recent Bengaluru activity includes the September 2026 launch of Prestige Parklane in Devanahalli, a residential project with an estimated gross development value of around Rs 1,750 crore and 1,788 homes across 11.91 acres. In its second-quarter FY27 operating update on 13 October 2026, the company said it had about Rs 40,000 crore of launches lined up for the second half of the year.
What comes next
Completion of the share transfer is due on or before 12 November 2026. Attention will now turn to formal confirmation of completion and to further disclosures on the assets, liabilities, project pipeline and expected financial contribution of Gloind and Tarun Realtors. The company has also intimated a board meeting to approve results for the quarter ended 30 September 2026.