DB Realty looking to exit two flagship projects in Mumbai
DSIJ Intelligence / 25 Jul 2017
DB Realty is looking to exit or sell stakes in its two flagship projects in Mumbai. Both these projects are in prime locations and the company is unable to complete construction of these projects.
A leading news agency reported that DB Realty is looking to exit or sell stakes in its two flagship projects in Mumbai. Both these projects are in prime locations and the company is unable to complete construction of these projects.
The report further said that DB Realty is looking to exit or jointly develop through Joint Development Agreement (JDA) - two of its projects, Skypark in Sahar, Andheri East and one in Bandra West next to Lilavati Hospital.
DB Realty is a construction and real estate development company. The company is engaged in the construction of residential buildings or commercial complexes and activities connected and incidental thereto.
At Rs 41.5, the share price of DB Realty was up by 7.24% at 1445 hours. The stock has witnessed a spurt in volume by more than 20.70 times during Tuesday’s trading session.
The share price of DB Realty declined 27 percent in the last one year.
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