D B Realty has executed a Share Purchase Agreement on November 6, 2023 to dispose off/sale of its 100% stake in equity and preference shares in Real Gem Buildtech (RGBPL) for a consideration of approximate Rs 231.42 crore to Kingmaker Developers (KDPL), a company of Rustomjee Group.
The said transaction will lead to considerable amount of free cashflow to the company. Further, the company has been carrying the entity as ‘Asset held for sale’ till now and the transaction will help to clean up the DBR Balance Sheet and close the transaction with Rustomjee.
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.
