Prozone Realty Limited
Incorporated in 2007, Prozone Realty Ltd is in the business of developing, owning and operating of Shopping Malls, Commercial and Residential Premises and providing related management consultancy services
What Prozone files
- Others44
- Important40
- Board Meeting14
- Updates8
- JV/Acquisition6
- Results2
Prozone Realty strategically sold two malls for INR 1,242.5 Cr, generating 800 Cr+ cash, pivoting to high-growth MMR projects. Q1 retail sales hit Rs 240 Cr with 5.3 million footfall. Malls are 95-96% occupied. Residential projects advance, with 1.3 Cr Q1 PAT boosted by discontinued operations.
Prozone Realty's bid to reclassify key promoter group members, holding 2.35% stake, to the public category was rejected by NSE due to unresolved queries. These members will remain within the promoter group.
Prozone Realty's application to reclassify specific promoter group entities and individuals (representing 2.35% shareholding) to the public category has been closed by BSE. This maintains the current promoter group composition.
Prozone Realty shareholders approved the sale of its entire stake in subsidiaries Kruti, Alliance, and Empire, including their mall assets, for Rs. 1,242.50 Cr to Inorbit Malls. The company will retain land assets by hiving them into new wholly-owned SPVs.
Prozone Realty shareholders approved selling stakes in Kruti, Alliance, and Empire to Inorbit Malls for up to Rs. 1,242.50 Cr. The plan also involves hiving off specific land assets into new SPVs, which Prozone will retain.