Prozone Realty Limited (PROZONER)

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Prozone Realty Limited (PROZONER) · mywealthgrid

About

Prozone Realty Limited develops residential and commercial real estate projects within Consumer Discretionary sector. At ₹641.23 Cr market cap, two distinct operations show divergent performance: one maintains 35–48% operating margins (₹38–58 Cr quarterly revenue), another posts consistent losses of −29% to −47% OPM (₹2–3.5 Cr quarterly revenue). High leverage (D/E 1.44) and weak returns (ROE 2.31%, 1y return −2.66%) elevate execution risk.

Face value: ₹2

Market cap

₹802 Cr

P/E

70.8×

P/B

1.8×

Dividend yield

ROE

2.3%

ROCE

Debt / equity

1.44

OPM

39.3%

EPS (TTM)

₹0.7

Book value

₹29.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

One segment persistently unprofitable across 8 recent quarters with operating margins of −29% to −47%; verify whether this represents temporary project phase or structural issue requiring restructuring.
Debt-to-equity ratio of 1.44 in capital-intensive sector amplifies downside in slowdowns; verify refinancing needs, interest coverage, and cash generation from profitable segment.
Stock declined 2.66% over 1 year while trading at PE 59.93; verify whether valuation reflects growth expectations the loss-making segment may not deliver.
Real estate demand trends in residential and commercial categories should be verified against sales data, project velocity, and market absorption rates.

Generated analysis · source review pending

Growth drivers

Profitable segment's 35–48% operating margins demonstrate viable execution; verify pipeline depth and capacity to scale this division or restructure the loss-making unit.
Larger profitable operation (₹38–58 Cr quarterly revenue) versus smaller unprofitable operation (₹2–3.5 Cr) confirms core business works; verify strategic intent for the loss-making division.
Persistent losses in one segment across 8 quarters may be resolved if project cycle completes or portfolio realignment occurs; verify root cause and recovery path.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹52.5-6.5%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 39.3%
+Revenue CAGR of 34.2% over the last 5 years

Cons

−Low return on equity of -1.5% (3-yr avg)
−Profit declined 25% a year over the last 3 years
−Weak interest coverage of 1.6×
−Expensive at 70.8× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

21/100

Business quality: 27
Growth: 4
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	63	96	118	85	45	93	173	185	179	195
COGS	—	32	28	0	0	17	67	68	56	57
Gross profit	—	65	90	—	—	76	107	117	123	139
	58	27	30	36	26	37	51	62	77	61
	5	38	61	49	19	39	55	55	46	78
OPM %	7.8%	39.3%	51.3%	57.3%	42.6%	41.8%	32%	29.9%	25.7%	39.8%
Depreciation	12	27	34	33	30	27	24	24	23	23
Interest	10	27	34	42	45	40	41	42	38	44
	11	12	16	20	14	22	58	18	12	17
Profit before tax	—	-5	8	-6	-42	-6	48	7	-2	28
Tax	2	2	1	-2	-1	-4	9	4	52	10
Tax %	—	49.9%	18.6%	-31%	-1.2%	-74.8%	19.6%	58.1%	2,316%	35.1%
	2	-7	7	-4	-42	-1	38	3	-54	18
PAT margin %	2.6%	-7.3%	5.5%	-4.9%	-93%	-1.6%	22.1%	1.5%	-30.4%	9.2%
EPS (₹)	—	-0.4	0.2	-0.1	1.8	-0.2	1.7	0.3	-2.5	0.7
EPS adjusted (₹)	0.1	-0.3	0.2	-0.1	-1.8	-0.2	1.7	0.3	-2.5	0.7
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	31	31	31	31	31	31	31	31	31	31
Reserves	510	492	469	466	450	452	481	479	437	426
Minority interest	317	343	328	325	299	304	320	325	312	32
	226	332	348	382	459	471	420	422	422	655
	97	119	257	407	384	385	336	300	269	275
Total equity & liabilities	1,181	1,317	1,432	1,611	1,624	1,641	1,589	1,556	1,471	1,418
	21	10	7	5	95	94	95	94	103	98
CWIP	193	—	—	—	—	—	37	0	0	—
Investments	107	64	76	66	631	657	611	610	587	492
	861	1,244	1,348	1,539	898	890	846	852	781	828
Total assets	1,181	1,317	1,432	1,611	1,624	1,641	1,589	1,556	1,471	1,418

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Leasing	130.3	68.11	424.59	576.42	—	—
Outright Sales	64.92	-4.45

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	76.5%	—	—	81.5%	61.5%	63.4%	68.8%	71%
EBITDA margin %	51.2%	57%	42.6%	41.8%	32.1%	29.7%	25.3%	39.3%
EBIT margin %	22.5%	17.7%	-24.8%	13.2%	18.1%	16.8%	12.4%	27.5%
PAT margin %	5.5%	-4.9%	-93%	-1.6%	22.1%	1.5%	-30.4%	9.2%
Working capital
Receivable days	107	83	181	114	28	26	25	31
Inventory days	3,614	4,021	6,380	9,972	2,456	2,198	2,516	2,596
Payable days	—	—	170	436	127	100	118	122
NWC days	—	—	6,390	9,651	2,357	2,124	2,423	2,505
Leverage
Current ratio	1.66	1.47	1.64	1.9	1.75	1.93	1.96	1.97
Debt to EBITDA	5.74	7.88	24.03	12.06	7.57	7.7	9.35	8.54
Debt to equity	0.7	0.77	0.95	0.98	0.82	0.83	0.9	1.44
Interest coverage	1.2	0.8	0.1	0.9	2.2	1.2	0.9	1.6
Asset turnover	0.08	0.05	0.03	0.06	0.11	0.12	0.12	0.14
Return ratios
Return on assets %	0.5%	-0.3%	-2.6%	-0.1%	2.4%	0.2%	-3.7%	1.3%
Return on capital employed %	3.4%	2.9%	0.2%	2.7%	7.1%	3.9%	2.8%	6%
Return on equity %	1.3%	-0.8%	-8.7%	-0.3%	7.5%	0.6%	-11.6%	3.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	24.49%	24.43%	24.39%	24.02%	23.39%	23.21%	22.72%	51.51%	52.43%	53.56%	53.56%	53.63%
	5.36%	3.01%	3.06%	3.02%	3.02%	3.02%	3.01%	3.02%	3.31%	3.26%	3.05%	3.01%
	0%	0.07%	0%	0%	0%	0%	0.1%	0.1%	0.06%	0.03%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	70.15%	72.49%	72.55%	72.96%	73.59%	73.77%	74.17%	45.37%	44.2%	43.15%	43.39%	43.36%
No. of shareholders	—	—	—	—	—	—	—	—	56,469	55,505	53,020	51,688

Promoter holding up 29.14 percentage points since Sep 2023.

10 disclosures

Person	Deal	Shares	Value	Holding	Filed
Salil Chaturvedi Family TrustPromoter Group	SellMarket Sale	1,02,000	₹50.59 L	7.48% → 7.41%	1 Oct 20257(2)
Salil Chaturvedi Family TrustPromoter Group	SellMarket Sale	50,000	₹24.56 L

43 deals · 13 Oct 2023 – 30 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Sept 2026	APAX TRUST	Bulk	NSE	Buy	11,48,300	₹56.60	₹6.50 Cr
30 Sept 2026	SARITA JAIN	Bulk	NSE	Sell	10,25,000	₹56.59	₹5.80 Cr
30 Sept 2026	SARITA JAIN	Bulk	NSE	Buy	20,000	₹56.31	₹0.11 Cr
30 Jun 2026	APAX TRUST	Bulk	NSE	Buy	13,02,881	₹44.67	₹5.82 Cr
3 Oct 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	30,56,699	₹64.09	₹19.59 Cr
3 Oct 2025	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	30,56,699	₹64.17	₹19.61 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	15,97,902	₹62.96	₹10.06 Cr
3 Oct 2025	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	15,86,132	₹63.07	₹10.00 Cr
3 Oct 2025	QE SECURITIES LLP	Bulk	NSE	Buy	14,88,446	₹63.22	₹9.41 Cr
3 Oct 2025	QE SECURITIES LLP	Bulk	NSE	Sell	14,88,247	₹63.25	₹9.41 Cr

1–10 of 43

1 / 5

Mr. FARHAT JAMALNon-Executive - Independent Director-Chairperson
Mr. UMESH KUMARNon-Executive - Independent Director
Anurag GargChief Financial Officer
Mrs. DIPA HETAL HAKANINon-Executive - Independent Director
Mr. NIKHIL CHATURVEDIExecutive Director
Mr. SALIL CHATURVEDINon-Executive - Non Independent Director
Mr. BIPIN GURNANIExecutive Director
Ajayendra Pratap JainCompany Secretary & Chief Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Prozone Realty Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

22 announcementsExport CSV

1 Oct 2026, 8:23 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

1 Oct 2026, 3:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Sept 2026, 5:14 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

9 Sept 2026, 12:50 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Sept 2026, 8:32 pmAGM/EGM

Notice Of The 19Th Annual General Meeting Of The Company For Financial Year 2025-26

AGM PDF

8 Sept 2026, 8:28 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

8 Sept 2026, 6:32 pmAGM/EGM

Prozone Realty Ltd - 534675 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report

Postal Ballot PDF

8 Sept 2026, 6:26 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot

Postal Ballot PDF

Date	Category	Subject	Filing
1 Oct 2026, 8:23 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
1 Oct 2026, 3:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	76.5%	—	—	81.5%	61.5%	63.4%	68.8%	71%
EBITDA margin %	51.2%	57%	42.6%	41.8%	32.1%	29.7%	25.3%	39.3%
EBIT margin %	22.5%	17.7%	-24.8%	13.2%	18.1%	16.8%	12.4%	27.5%
PAT margin %	5.5%	-4.9%	-93%	-1.6%	22.1%	1.5%	-30.4%	9.2%
Working capital
Receivable days	107	83	181	114	28	26	25	31
Inventory days	3,614	4,021	6,380	9,972	2,456	2,198	2,516	2,596
Payable days	—	—	170	436	127	100	118	122
NWC days	—	—	6,390	9,651	2,357	2,124	2,423	2,505
Leverage
Current ratio	1.66	1.47	1.64	1.9	1.75	1.93	1.96	1.97
Debt to EBITDA	5.74	7.88	24.03	12.06	7.57	7.7	9.35	8.54
Debt to equity	0.7	0.77	0.95	0.98	0.82	0.83	0.9	1.44
Interest coverage	1.2	0.8	0.1	0.9	2.2	1.2	0.9	1.6
Asset turnover	0.08	0.05	0.03	0.06	0.11	0.12	0.12	0.14
Return ratios
Return on assets %	0.5%	-0.3%	-2.6%	-0.1%	2.4%	0.2%	-3.7%	1.3%
Return on capital employed %	3.4%	2.9%	0.2%	2.7%	7.1%	3.9%	2.8%	6%
Return on equity %	1.3%	-0.8%	-8.7%	-0.3%	7.5%	0.6%	-11.6%	3.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-30	-52	-10	28	-18	-18	91	82	60	40	77
	-116	16	-10	-11	4	52	-56	10	-12	-25	-234
	153	40	4	-20	20	4	-47	-80	-41	-32	192
Net cash flow	7	4	-16	-2	6	38	-12	12	7	-18	36
Free cash flow	-31	-54	-19	28	-18	-19	91	79	60	32	72
CFO / Operating profit %	—	—	-26.1%	46.9%	-37.3%	-95.8%	233.1%	147.5%	110%	87.8%	100.2%

Prozone Realty Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

Announcements

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Lease rental and related services · revenue

Prozone Realty Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Lease rental and related services · revenue

1

1