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This RK Damani, Rakesh Jhunjhunwala-owned stock has gained 56% in 3 days – Business Standard

Shares of Prozone Intu Properties were locked in the 10 per cent upper circuit band for the second straight day, at Rs 31.75 apiece, on the BSE on Monday with only buyers rushing to the counter. In the past three days, the stock has zoomed 56 per cent from a level of Rs 20.40 seen on Wednesday, May 26 and was trading at its highest level since May 2019. In the past one month, the stock has rallied 84 per cent as compared to a 6 per cent rise in the S&P BSE Sensex.
Till 02:45 pm, trading volumes on the counter nearly doubled with a combined 1.56 million shares having changed hands. There were pending buy orders for 1.6 million shares on the NSE and BSE, data show.

Ace investors Radhakishan Damani and Rakesh Jhunjhunwala owned a more than 1 per cent stake in realty firm Prozone Intu Properties at the end of Q4FY21. As on March 31, 2021, Rakesh Jhunjhunwala held 3.15 million shares or 2.06 per cent stake, while Radhakishan Damani held 1.93 million shares or 1.26 per cent stake in Prozone Intu Properties, shareholding pattern data shows.
Prozone Intu Properties is a debt free company and has assets worth over Rs 2,000 crore with more than 3 million sq ft under development. The company is a focused retail-led and residential mixed use real estate development company. Besides, it has a strong presence in Tier II and Tier III cities in India.
The company’s partner Intu Properties Plc, UK owns and manages 12 of the top 20 UK Shopping Centre’s including Iconic Lakeside Thurrock, Trafford Centre and Metro Centre amongst others. They are the second largest REITs in the UK and amongst the top 20 REITs in the world with assets in the UK, Spain and India.
Back home, Prozone Intu has 17.79 mn sq. ft. of fully paid-up land bank in prime locations with 1.2 million developed till date and more than 16.5 mn sq. ft. being developed in different phases. The company has two shopping centres in Aurangabad and Coimbatore with future expansions in Nagpur and Mumbai. Luxurious gated residential complexes and villa developments in Nagpur, Coimbatore and Indore; commercial office developments in Aurangabad.
For nine months ended December 2020 (9MFY21), Prozone Intu Properties had reported a consolidated loss of Rs 45 crore due to lower operational income. It had posted loss of Rs 2.7 crore during the same period last year. Total income from operations during the period declined 73 per cent to Rs 17.93 crore from 67.27 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin contracted to 68.4 per cent from 80.4 per cent.