MoneyWorks4Me

D B Realty’s arm enters into non-binding term sheet to sell land at Mumbai

19 Sep 2022 Evaluate

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.

Peers
Company Name CMP
Lodha Developers 1109.05
Prestige EstatesProj 1434.40
Dilip Buildcon 409.20
DLF 653.90
Oberoi Realty 1734.10
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