Prozone Realty Approves Hiving Off Assets, Major Divestment, and Stake Acquisition

Prozone Realty Approves Hiving Off Assets, Major Divestment, and Stake Acquisition​

Prozone Realty Limited announced key strategic decisions following its Board of Directors meeting held on April 28, 2026. The Board considered and granted approval for a significant internal asset transfer, the sale of identified material subsidiaries to Inorbit Malls {India} Private Limited or its Affiliates, and the acquisition of a stake in Gajaanan Property Developers Private Limited.

The company has proposed the hiving off of specific 'Land Assets' owned by Alliance Mall Developers Co. Pvt. Ltd. and Empire Mall Private Limited. These assets are being transferred to two new special purpose vehicles (SPVs)—Prozone Horizons Private Limited (PHPL) and Hagwood Commercial Developers Private Limited (HCDPL), respectively—both wholly owned subsidiaries of the company. These SPVs will be retained by Prozone Realty to facilitate the proposed disinvestment of the identified material subsidiaries through sale or transfer of shareholding.

Material Subsidiary Divestment​

Prozone Realty plans to sell specific equity shareholdings in three material subsidiaries—M/s Kruti Developers Private Limited, Alliance Mall Developers Co. Pvt. Ltd., and Empire Mall Private Limited—to Inorbit Malls {India} Private Limited or its affiliates.

The key holdings and associated data are summarized below:


The transaction involves an aggregate gross consideration of approximately Rs. 1,242.50 Crores for the sale of these stakes, adjusted for other assets and liabilities upon closing.

Internal Asset Transfer Details​

The land assets involved in the hiving off are detailed as follows:

Proposed Acquisition in GPDPL​

In a separate strategic move, the Board also approved the acquisition of a 17.507% stake in M/s Gajaanan Property Developers Private Limited (GPDPL). The proposed acquisition is set to take place via a Share Purchase Agreement executed between Prozone Realty, GPDPL, and Festival Valley Developers Private Limited (FVDPL).

The target entity, GPDPL, is engaged in the real estate construction and development business. Its financials as of the last financial year are:


The acquisition is noted to be in line with Prozone Realty's plan to expand its presence in high income yielding assets and increase its stake in GPDPL to access high-potential land. The estimated consideration for the acquisition is approximately Rs. 24 Crores.

The company also approved a Postal Ballot notice, dated April 28, 2026, seeking shareholder approval for the aforementioned sale of stakes and the hiving off of remaining assets held by Empire and Alliance.

PROZONER Stock Price Movement​

Today, Prozone Realty Limited shares slipped by 2.28%, closing at ₹63.04. The equity saw substantial trading activity, with 141,864 shares transacting during the session.