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Prozone Realty Limited (PROZONER) Fair Value & Analysis

Real Estate · IN · Market cap ₹7.3B

PR Prozone Realty Limited PROZONER · NSE
Price₹43.50
Fair Value₹16.04
Upside-63.1%
Quality60/100
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Healthy Growth
Thin margins · 5.5% net margin
Moderate debt · generates free cash flow
Trails peers (4/13)
Narrow moat 41/100
Evidence: High Range ₹12.87 – ₹21.40 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 4 days ago

Share price −0.1% over the past month.

A solid business, but screening 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹21.40). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

₹72.77 ₹16.75 Fair Value ₹16.04 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹16.75 – ₹72.77 · fair‑value band ₹12.87 – ₹21.40 · the ₹43.50 price screens above the ₹16.04 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Prozone Realty Limited (PROZONER) currently trades at ₹43.50, while our model-based Fair Value estimate is ₹16.04, implying the stock looks roughly 63.1% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Prozone Realty Limited generated revenue of ₹2.0B at a net margin of 5.5%. Revenue declined 0.5% year over year. It earns a return on equity of 2.8%. Net debt stands at ₹5.8B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹12.87 (bear case) to ₹21.40 (bull case); at ₹43.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 40% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -34% fair-value upside, at -63%, PROZONER screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹31.74 ₹82.61 80
Rev-Margin DCF ₹26.62 ₹67.38 74
Residual Income ₹20.91 ₹19.86 ₹15.68 61
All 14 models by family
DCF Models
FCF DCF ₹27.61 ₹96.92 38
5Y Revenue Exit ₹27.93 ₹71.37 39
5Y EBITDA Exit ₹17.10 ₹71.44 ₹144.45 41
10Y Revenue Exit ₹26.43 ₹76.82 36
10Y EBITDA Exit ₹11.01 ₹59.07 ₹141.50 37
Multiples
P/S Multiple ₹8.93 ₹11.91 ₹14.88 58
P/B Multiple ₹8.93 ₹11.91 ₹14.88 55
EV/EBIT ₹22.23 ₹41.58 ₹60.92 53
EV/EBITDA ₹28.29 ₹49.66 ₹71.03 54
EV/Revenue ₹9.92 ₹23.64 43
Asset-Based
NCAV (Graham) ₹14.95 ₹20.04 ₹29.91 50
Growth DCF
Growth DCF ₹31.74 ₹82.61 80
Rev-Margin DCF ₹26.62 ₹67.38 74
Economic Profit
Residual Income ₹20.91 ₹19.86 ₹15.68 61

Widest divergence: DCF Models (₹27.93) versus Multiples (₹11.91). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹2.0B
Revenue growth (YoY) -0.5%
Net margin 5.5%
Return on equity 2.8%
Free cash flow ₹395M FY2026
P/E ratio 62.1
More key figures
Operating margin 24.1%
EPS (TTM) ₹0.7000
EPS growth (YoY) +140%
Net debt ₹5.8B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 57 · Market factors (momentum, volatility) 31

Profitability 18
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Prozone Realty Limited designs, develops, owns, and operates shopping malls, and commercial and residential premises in India. It operates through Leasing and Outright Sales segments. The company develops and operates regional shopping centers, gated residential complexes and villas, and commercial offices. It also provides management consultancy services.

Full company description

Prozone Realty Limited designs, develops, owns, and operates shopping malls, and commercial and residential premises in India. It operates through Leasing and Outright Sales segments. The company develops and operates regional shopping centers, gated residential complexes and villas, and commercial offices. It also provides management consultancy services. Prozone Realty Limited was formerly known as Prozone Intu Properties Limited and changed its name to Prozone Realty Limited in May 2023. Prozone Realty Limited was incorporated in 2007 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Prozone Realty Limited reported revenue of ₹2.0B in FY2026 versus ₹934M in FY2022, a compound +20.2%/yr. Reported net income was ₹107M in FY2026.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹2.0B
Latest YoY
+9.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.2%
Revenue +20.2%/yr
FY22 ₹934M
FY23 ₹1.7B
FY24 ₹1.8B
FY25 ₹1.8B
FY26 ₹2.0B
Net income
FY22 −₹35.1M
FY23 ₹253M
FY24 ₹45.3M
FY25 −₹379M
FY26 ₹107M

PROZONER screens 63% overvalued. Compare with Swiss Prime Site AG →

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Cite: Fair Value Calculator (2026). "Prozone Realty Limited Fair Value". https://www.fairvalue-calculator.com/stock/PROZONER

Peer Group

Real Estate - Diversified · 137 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 60 · Top 25%
Fair Value upside −63% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 24% · Above median
Revenue growth -1% · Below median
Debt / equity 1.37× · Higher than 75% of peers

Valuation Multiples vs Real Estate - Diversified median · lower = cheaper

P/E (TTM) 62.1× · Pricier than 75% of peers
P/B 1.59× · Pricier than 75% of peers
P/S (TTM) 3.72× · Pricier than median
P/FCF 0.2× · Cheaper than 75% of peers
EV/EBITDA 16.6× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 44
FUTURE 0 · sector 32
PAST 11 · sector 19
HEALTH 32 · sector 74
DIVIDEND 0 · sector 61

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Prozone Realty Limited (PROZONER) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹16.04 versus a price of ₹43.50, about −63% (overvalued).
What is the fair value of PROZONER?
Our model-based fair value for Prozone Realty Limited is ₹16.04 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹43.50.
What is the quality score of PROZONER?
Prozone Realty Limited has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Prozone Realty Limited (PROZONER)?
Prozone Realty Limited reported trailing-twelve-month revenue of about ₹2.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PROZONER?
The net profit margin of Prozone Realty Limited is about 5.5%, meaning it keeps roughly 5.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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