D B Realty’s wholly owned subsidiary -- Esteem Properties has entered into a non-binding term sheet with a large fund for sale of its land at adjoining ITC Grand Maratha Hotel, Andheri East, Mumbai at a consideration of Rs 480 crore. The proposed transaction is subject to customary diligence and necessary approvals and is expected to close within 60 to 90 days.
D B 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.
