Prozone Realty Reports Strong Q1 Results, Plans Two New Subsidiaries
Prozone Realty Limited announced strong Q1 results with total income rising 18.80% to Rs 3,823.52 crore and a net profit of Rs 378.26 crore, compared to a loss in the previous year. The company's Board approved the incorporation of two wholly-owned subsidiaries, Prozone Dream Realtors Pvt Ltd and Prozone Horizons Pvt Ltd, to expand operations in the construction and real estate sectors. Prozone will invest Rs 1,00,000 in each subsidiary for 10,000 equity shares at Rs 10 per share.
Prozone Realty Limited announced its Q1 FY26 results, reporting a consolidated net profit of Rs. 378.26 crore on revenue of Rs. 3,823.52 crore. The leasing segment performed well with a profit of Rs. 1,700.00 crore, while the outright sales segment incurred a loss of Rs. 213.55 crore. The company's Nagpur residential project faces ongoing aviation clearance issues, with the Bombay High Court ordering fresh aeronautical studies. Additionally, the company is addressing leadership changes following the rejection of its Deputy Managing Director's re-appointment by the Ministry of Corporate Affairs.