Prozone Realty Limited has issued a postal ballot notice dated March 25, 2026, seeking member approval for key board appointments through remote e-voting process. The notice has been submitted to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Key Appointment Details

The company is seeking shareholder approval for the appointment of Mr. Farhat Jamal (DIN: 01875688) as an Independent Director. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, had appointed him as an Additional Director effective from February 7, 2026.

E-Voting Schedule and Process

The postal ballot will be conducted exclusively through remote e-voting, with no physical ballot forms being distributed. Members whose names appear in the Register of Members as on the cut-off date of March 20, 2026, will be eligible to participate in the voting process.

Newspaper Publication and Regulatory Compliance

Pursuant to Regulations 30 and 47 of the SEBI (LODR) Regulations, 2015, Prozone Realty Limited published newspaper advertisements on March 26, 2026, informing members about the electronic dispatch of the postal ballot notice. The advertisements were published in two newspapers to ensure wide coverage.

Director Profile and Expertise

Mr. Farhat Jamal brings over three decades of experience in hospitality operations, leadership, and strategic management. He has previously been associated with prominent hospitality groups including IHCL (Taj Hotels, Resorts and Palaces), Shangri-La Hotels and Resorts, The Lalit Group, and the Hiranandani Group in senior leadership and advisory roles.

His educational qualifications include:

• Degree from the Institute of Hotel Management, Pusa, New Delhi
• Certified Hotel Administrator (CHA) from American Hotel and Lodging Educational Institute
• Cornell University Summer Programme for Senior Managers
• Corporate Finance Course for Senior Executives with Singapore Management University

Scrutinizer Appointment and Process Management

The company has appointed Mr. Hemant Shetye (FCS 2827: COP 1483), failing him Mr. Kunal Sakpal (ACS 75123: COP 27860), Designated Partners of M/s. HSPN & Associates LLP, as Scrutinizers for conducting the postal ballot process. The appointment requires approval through a Special Resolution as mandated under Regulation 25(2A) of the SEBI Listing Regulations.

MUFG Intime India Private Limited, the company's Registrar & Transfer Agent, will provide the e-voting facility to members. The postal ballot notice is being sent electronically to members whose email addresses are registered with the company, depositories, or depository participants.

Committee Memberships

Upon appointment, Mr. Farhat Jamal will serve on multiple board committees:

The resolution, if approved, will be deemed to have been passed on April 24, 2026, the last date of e-voting. Results will be displayed on the company's website and communicated to stock exchanges and depositories.

Prozone Realty Limited has announced that its Board of Directors has approved the strategic acquisition of equity stakes in three material subsidiaries through cash payments. The company will acquire 38.50% stakes in both Hagwood Commercial Developers Private Limited and Alliance Mall Developers Co. Private Limited, along with a 65.29% stake in Empire Mall Private Limited, marking a significant consolidation move in its real estate portfolio.

Board Approval and Transaction Structure

The Board of Directors has approved these acquisitions as part of the company's strategy to increase ownership and provide exit opportunities to foreign shareholders. The transactions will be executed through cash considerations, with Prozone Realty directly acquiring the Hagwood stake while its wholly owned subsidiary Kruti Realtors and Developers Private Limited will handle the other two acquisitions.

Individual Acquisition Details

The three acquisitions are structured to achieve complete ownership consolidation across the company's material subsidiaries:

Hagwood Commercial Developers Private Limited (Nagpur)

Alliance Mall Developers Co. Private Limited (Coimbatore)

Empire Mall Private Limited (Aurangabad)

Financial Performance of Target Entities

All three subsidiaries have demonstrated consistent revenue generation over the past three years:

Strategic Rationale and Implementation

The acquisitions are being undertaken to increase and consolidate the company's ownership in the target entities while providing exit opportunities to foreign shareholders. All three subsidiaries operate in the same line of business as Prozone Realty, focusing on developing, owning, and operating shopping malls, residential, and commercial premises.

The transactions are structured as cash considerations and do not constitute related party transactions. No governmental or regulatory approvals are required for these acquisitions, and the company expects to complete all transactions within 45 days of the Board resolution approval.

Post-acquisition, Prozone Realty and its wholly owned subsidiaries will become 100% shareholders of Empire Mall Private Limited (Aurangabad), Alliance Mall Developers Co. Private Limited (Coimbatore), and Hagwood Commercial Developers Private Limited (Nagpur), strengthening the company's presence across key Indian markets.