Prozone Realty Limited has scheduled its 19th Annual General Meeting for September 30, 2026. The meeting will commence at 11:30 am via video conferencing or other audio-visual means.

The company published newspaper advertisements on September 6, 2026, to inform shareholders about the upcoming meeting. The announcements appeared in Financial Express for nationwide English readership and Mumbai Lakshadeep for regional Marathi readership.

Meeting Details

The 19th AGM is convened in compliance with Ministry of Corporate Affairs General Circular No. 14/2020 dated April 8, 2020, and subsequent circulars, including General Circular No. 3/2025 dated September 22, 2025. The gathering adheres to applicable provisions of the Companies Act and SEBI Listing Regulations.

Shareholders can access the newspaper advertisements on the company website. The notice of the AGM along with the annual report for FY26 will be sent electronically to members with registered email addresses. A letter containing the weblink for the annual report will be dispatched to shareholders without registered emails.

Corporate Information

Prozone Realty Limited is registered under CIN L45200MH2007PLC174147. The company's registered office is located at Unit-A, 2nd Floor, Hotel Sahara Star, Opposite Domestic Airport, Vile Parle (East), Mumbai 400 099.

Prozone Realty Limited completed the sale of its identified subsidiaries to Inorbit Malls (India) Private Limited for ₹1,242.50 crore on August 24, 2026. The transaction marks a significant step in the company’s strategy to monetize operational mall assets while retaining land parcels for future development.

The deal involves the transfer of equity shareholdings in three entities: Kruti Realtors and Developers Private Limited, Alliance Mall Developers Co. Pvt. Ltd., and Empire Mall Private Limited. Consequently, Festivalvalley Developers Pvt. Ltd., an indirect subsidiary of Empire, also ceased to be part of Prozone Realty’s group.

Transaction Details

The aggregate gross consideration of ₹1,242.50 crore remained unchanged following the purchaser’s due diligence, with no adjustments made at closing. The sale was finalized after fulfilling certain conditions precedent under the definitive transaction documents.

Asset Retention Strategy

While operational malls were sold, Prozone Realty retained significant land assets through wholly owned subsidiaries. These include:

• 6.44 acres and 9.82 acres held by Hagwood Commercial Developers Private Limited and Prozone Horizons Private Limited, respectively.
• Approximately 41 acres in Nagpur via Hagwood Commercial Developers Private Limited.
• Around 43 acres in Indore through Omni Infrastructure Private Limited.
• A 26.82% stake in a 9.63-acre real estate project at Oshiwara, Andheri, housed under Gajaan Property Developers Private Limited.

The hiving-off of land assets owned by Alliance and Empire is still under process, with further disclosures expected upon completion as per SEBI (LODR) Regulations, 2015.

What the Numbers Show

The transaction structure reveals a clear strategic pivot: monetizing income-generating but capital-intensive operational assets while retaining high-potential land banks. By selling 100% stakes in Kruti, Alliance, and Empire, Prozone Realty has effectively exited direct mall operations in these entities, focusing instead on real estate development in the Mumbai Metropolitan Region and other key locations. The unchanged consideration despite due diligence suggests strong buyer confidence in the asset quality.

Future Outlook

Following the transaction, Prozone Realty will continue its real estate development business, evaluating opportunities across commercial and residential segments. The company aims to realize the future development potential of its retained land parcels through relevant subsidiaries.