Inorbit Malls completes ₹1,242.5 crore acquisition of two shopping malls from Prozone Realty

Inorbit Malls completes ₹1,242.5 crore acquisition of two shopping malls from Prozone Realty

Inorbit Malls has completed the acquisition of two shopping mall assets from Prozone Realty for ₹1,242.5 crore, expanding its presence across India’s organised retail real estate market.

The two malls are located in Chhatrapati Sambhaji Nagar, formerly known as Aurangabad, and Coimbatore. The transaction gives Inorbit Malls a significantly larger retail property portfolio and marks another step in the company’s expansion strategy.

With the completion of the deal, Inorbit Malls’ asset base has doubled from four to eight properties within a year. Its total Gross Leasing Area (GLA) has also crossed 5 million square feet, strengthening the company’s position in the shopping mall segment.

Two malls added to Inorbit portfolio

The acquisition covers two mall assets previously held by Prozone Realty. The transaction was completed through the sale and transfer of Prozone Realty’s equity shareholdings in the respective mall assets to Inorbit Malls (India) Pvt Ltd.

Prozone Realty confirmed that the aggregate gross consideration for the transaction stood at ₹1,242.50 crore, in line with the amount disclosed when the deal was initially announced.

For Inorbit Malls, the acquisition provides immediate access to operational retail assets in two important urban markets. Coimbatore gives the company a stronger presence in Tamil Nadu, while the addition of the Chhatrapati Sambhaji Nagar asset expands its footprint in Maharashtra beyond its existing locations.

Portfolio expands amid retail real estate growth

The transaction comes as organised retail continues to form an important part of India’s commercial real estate landscape. Shopping malls are increasingly being viewed not only as retail destinations but also as large mixed-use consumption hubs, supported by brands, entertainment, food and beverage and other consumer services.

For Inorbit Malls, adding two existing assets also allows the company to expand its portfolio without relying solely on new mall development. The enlarged platform could provide greater scale across operations, leasing and property management.

The acquisition is also significant for Prozone Realty, as the company has now completed the transfer of its interests in the two mall assets. The ₹1,242.5-crore transaction provides clarity on the ownership transition while allowing Inorbit Malls to further build its retail property portfolio.

With eight assets and more than 5 million sq ft of Gross Leasing Area following the acquisition, Inorbit Malls now has a substantially larger platform from which to pursue its next phase of retail expansion.