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Godrej Properties’ board approves potential investment in DB Realty

04 Feb 2022 Evaluate

Godrej Properties’ (GPL) Board has approved a potential investment in DB Realty (DBR) and also the setting up of a special purpose vehicle along with DBR to jointly undertake slum rehabilitation and MHADA redevelopment projects. GPL will subscribe to warrants convertible into Equity Shares aggregating to approximately 10% of the issued and paid-up capital of DBR for an aggregate amount of approximately Rs 400 crore. GPL and DBR will each contribute an additional 300 crore towards the equity platform focused on redevelopment opportunities in Mumbai.

The equity platform will act as a strategic special purpose vehicle providing GPL with ROFR (Right of First Refusal) for all slum rehabilitation and MHADA redevelopment projects to be identified by DB across Mumbai under a 50:50 equity partnership with 10% development management fees to GPL. This will provide GPL access to a large number of slum rehabilitation and MHADA redevelopment projects in MMR.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.

Godrej Properties Share Price

1805.05 46.15 (2.62%)
21-Apr-2026 16:59 View Price Chart
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