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DB Realty zooms as its arm inks development management agreement with Indo

03 Jul 2017 Evaluate

DB Realty is currently trading at Rs. 41.50, up by 2.65 points or 6.82% from its previous closing of Rs. 38.85 on the BSE.

The scrip opened at Rs. 39.40 and has touched a high and low of Rs. 43.55 and Rs. 39.05 respectively. So far 214911 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 62.45 on 04-Jul-2016 and a 52 week low of Rs. 35.00 on 29-Dec-2016.

Last one week high and low of the scrip stood at Rs. 43.55 and Rs. 38.10 respectively. The current market cap of the company is Rs. 1015.61 crore.

The promoters holding in the company stood at 62.30%, while Institutions and Non-Institutions held 11.62% and 26.08% respectively.

DB Realty’s subsidiary - Neelkamal Realtors Tower has entered into a development management agreement with Indo Global Soft Solutions and Technologies (Indo), a Radius Group Company and which is a Sanjay Chhabria Venture for the development of its Orchid Heights Project on land admeasuring 19,434.10 square meters bearing C.S. No. 1906, Byculla Division, Jacob Circle, Mahalaxmi in Mumbai.

As per the agreement, Indo will arrange the entire funding required for the project and will be jointly responsible to construct, develop & market the residential project with construction area of approximately 32 lakh square feet. Indo has already agreed and provided the initial funding requirement for expeditiously completing the project.

DB Realty is a real estate development and construction company. The company is engaged in the construction of residential buildings/commercial complexes and activities connected and incidental thereto.

Valor Estate Share Price

106.36 -0.81 (-0.76%)
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