Prozone Realty Q2 FY27: PAT at ₹5,677 mn post mall sale; H1 revenue up 39%
Prozone Realty reported Q2 FY27 PAT of ₹5,677.44 mn post mall sale. H1 revenue from continuing operations grew 39% YoY to ₹318.8 mn. The company completed sale of two malls, transitioning to a development-led model. 351 homes handed over; ₹1,218 mn yet to be collected on booked sales. Net cash stands at ₹6,669.1 mn.
The sale of major assets (malls) and the strategic shift in the business model represent a significant change in the company's operations and future direction, impacting its financial structure and growth prospects.
The company reported a significant PAT driven by a strategic mall sale, a transition to a development-led model, and growth in residential revenue and home deliveries, alongside a strong net cash position.
Prozone Realty Limited has announced its financial results for the second quarter (Q2) and first half (H1) of FY2026-27. The company reported a Profit After Tax (PAT) after minority interest of ₹5,677.44 million for Q2 FY27, significantly boosted by the gain from the sale of its mall businesses.
The strategic sale of both the Coimbatore and Chh. Sambhaji Nagar malls to the K Raheja Corp group was completed in August 2026. Following this, the mall businesses are now reported as discontinued operations under Ind AS 105, with prior periods restated. This marks a significant transformation for Prozone Realty, shifting its business model from a retail-annuity approach to a land monetisation and development-led model, enhancing its balance sheet flexibility.
For H1 FY27, revenue from continuing operations, primarily residential, rose by 39% year-on-year to ₹318.8 million. Q2 revenue from operations increased by 7% year-on-year and 9% quarter-on-quarter to ₹166.4 million. The company has handed over 351 homes across its residential projects in Coimbatore and Nagpur, with completion approvals in hand. Sales and collections remain robust, with ₹204 million collected in Coimbatore in Q2 FY27. Indore Phase 1B has seen 37 of 75 plots sold, and Nagpur Elante has sold 21 of 38 plots.
The sale proceeds are prioritized for strengthening the balance sheet and liquidity, followed by the development of retained land parcels, adding new projects in Mumbai, and ultimately creating long-term shareholder value. As of September 30, 2026, Prozone Realty held ₹6,690.6 million in cash and investments with minimal gross debt of ₹21.5 million, resulting in a net cash position of ₹6,669.1 million.
The company expects the hive-off of its balance land to PRL in the next quarter, alongside the development of land parcels and evaluation of new Mumbai projects. Prozone Realty's retained land in Coimbatore, Nagpur, and Indore provides multi-year development visibility.
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Prozone Realty Limited filed this with the NSE as a statutory disclosure, categorised under other results related. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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