Prozone Realty Limited announced on June 2, 2026, that shareholders have approved the disinvestment of stakes in material subsidiaries and the hiving off of identified assets. This resolution was passed through postal ballot via remote e-voting. The approved proposal includes the disinvestment of entire shareholding in Kruti Realtors and Developers Private Limited (Kruti), Alliance Mall Developers Co. Pvt. Ltd. (Alliance), and Empire Mall Private Limited (Empire). The sale of these identified subsidiaries is proposed to be made to Inorbit Malls (India) Private Limited or its affiliates for an aggregate gross consideration of up to approximately ₹1,242.50 Crores (Rupees Twelve Hundred Forty Two Crores Fifty Lakhs only). This amount is subject to adjustments for other assets and liabilities on closing, excluding applicable taxes. As part of the restructuring, the 'Land Assets' of Empire and Alliance will be hived off into separate special purpose vehicles (SPVs): Hagwood Commercial Developers Private Limited (HCDPL) for Empire's land assets and Prozone Horizons Private Limited (PHPL) for Alliance's land assets. These hive-offs are intended to preserve future development potential while enabling monetisation of operational Mall Assets. The Mall Assets include developed portions of "Prozone Mall" (retail), "Prozone Trade Centre" (Commercial Office Tower), and "Saral Bazaar" (Small-format Retail) in Empire, and Phase 1 of "Prozone Mall" (retail) in Alliance. Upon completion of the disinvestment and hiving off, Kruti, Alliance, and Empire will cease to be subsidiaries of Prozone Realty Limited. The Board of Directors has been authorized to finalize all matters related to the disinvestment and hiving off, obtain necessary approvals, and take all steps deemed necessary in the best interests of the company.
