Prozone Realty Q2: Net Loss Widens To Rs31.63 Cr; Completes Mall Monetisation And Sharp Debt Reduction
India, Nov. 6 -- Indian real estate developers are increasingly choosing between owning assets for rent and building to sell. Malls tie up large amounts of capital and pay back slowly, so owners are cashing out to institutional buyers when valuations are good. The money is then used to cut debt and fund projects that turn over faster.
The Nifty 50 was trading at 24,5611.10, up 0.31%. Meanwhile, Sensex also rose 0.57% to 79,764.25 on Friday. Meanwhile, Shares of Prozone Realty Ltd. were trading at Rs. 53.04, down 2.43 percent from previous close of Rs. 54.36. The stock opened at Rs. 55.00 and reached an intraday high of Rs. 55.01 and low of Rs. 53.00. The company currently has a market capitalization of Rs. 809 crores.'
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