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Radhakishan S Damani has bought 19.7 lakh equity shares (representing 1.29 percent stake) of the company during July-September quarter.
Rakesh Jhunjhunwala also held 2.06 percent stake in the Mumbai-based real estate development and leasing company, as per the latest shareholding pattern available on the exchange.
Big institutions like Acacia Partners, Cavendish Asset Management, Nailsfield etc have 8.37 percent shareholding in the company that currently has zero debt and cash of Rs 50-60 crore on its books.
Promoters and UK-based Intu Properties Plc held 33.46 percent and 32.38 percent stake in the company.
Prozone Intu Properties, formerly known as Prozone Capital Shopping Center, has strategic partnership with Intu Properties UK Plc, the largest retail real estate developer in UK.
The company owns land banks aggregating 169 acres spread across 6 cities in India. Accordingly, it has 6 special purpose vehicles. It has two shopping malls at Coimbatore & Aurangabad and is planning to have another mall in Nagpur that will be completed in next two years.
Its business strategy is to acquire and develop large land parcels, with a focus on mixed-use development. It utilizes one-third of the land parcel to build retail centre, which is primarily a 'build and long term lease asset' and the rest two-third to develop mixed use developments such as residential townships or commercial office blocks.
The company registered a 48 percent revenue growth and 48 percent EBITDA growth in FY16 compared with FY16. It recorded profit of Rs 7.4 crore during the year ended 2015-16 against a loss of Rs 6.5 crore in the previous financial year.