DB Realty gains on joining hands with Godrej Properties for Mumbai-based project

22 Jul 2014 Evaluate

DB Realty is currently trading at Rs. 90.55, up by 4.30 points or 4.99 % from its previous closing of Rs. 86.25 on the BSE.

The scrip opened at Rs. 86.90 and has touched a high and low of Rs. 90.55 and Rs. 85.55 respectively. So far 88185 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 116.20 on 19-Jun-2014 and a 52 week low of Rs. 47.55 on 28-Feb-2014.

Last one week high and low of the scrip stood at Rs. 88.00 and Rs. 81.00 respectively. The current market cap of the company is Rs. 2202.71 crore.The promoters holding in the company stood at 61.42 % while Institutions and Non-Institutions held 9.13 % and 29.45 % respectively.

Real estate majors DB Realty and Godrej Properties will reportedly be joining hands to form a joint venture for a Mumbai-based project. The project is said to be in the Bandra East area of Mumbai and DB Realty will be holding a majority stake while Godrej will have a 45% stake in the entity, for which it will pay Rs 300 crore.

The total saleable area of the project is 12 lakh square feet and Godrej will re-develop the project and sell it for Rs 33,000 per square feet.

DB Realty is a real estate development company that focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai.

DB Realty Share Price

162.40 -3.90 (-2.35%)
29-Sep-2023 15:26 View Price Chart
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