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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
Prozone Realty completed the sale of subsidiaries Kruti, Alliance, Empire, and FVDPL for a gross consideration of INR 1,242.50 Cr. This monetizes operational mall assets, allowing the company to focus on its retained land parcels and new real estate development opportunities.
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 announced Q1 consolidated net profit of ₹1.30 Cr. Key strategic update: board & shareholders approved the sale of Alliance Mall, Empire Mall, & Kruti Realtors to Inorbit Malls. Shareholders also considering a ₹5.12 Cr remuneration waiver for an ex-MD.