D B Realty Unitech

Mumbai-based D B realty on Friday said its board has in-principally approved a proposal to demerge the company's hospitality business as part of its efforts to unlock the value for shareholders. In a regulatory filing, the company informed that the Board of Directors has considered and in-principally approved the proposal to demerge its hospitality business consisting of hotel business and assets. The assets include Goan Hotels & Realty Pvt Ltd (a wholly owned subsidiary), BD and P Hotels (India) Pvt Ltd (a subsidiary), and Bamboo Hotel And Global Centre (Delhi) Pvt Ltd (an associate of the company). "The demerger will unlock the value of the real estate and hospitality business for the company's shareholders, enable a differentiated strategy to capture the huge potential of the Indian hospitality sector, and attract a distinct set of investors, partners, collaborators, and leadership talent focused on the hospitality business," D B Realty said. It will also ensure that the real ..

D B Realty on Tuesday reported a 58 per cent increase in its consolidated net profit to Rs 893.74 crore in the second quarter of this fiscal year. Its net profit stood at Rs 565.79 crore in the year-ago period. Income from operations grew to Rs 68.01 crore in the July-September period of 2023-24 from Rs 10.15 crore in the corresponding period of the previous year, according to a regulatory filing. Total income rose to Rs 889.86 crore in the second quarter of this fiscal as against Rs 34.12 crore in the year-ago period. The Mumbai-based company's other income rose sharply on the back of gains on divestment of subsidiaries/joint ventures and associate firms.

D B Realty on Thursday said its subsidiaries have sold their entire shareholding in form of shares and debentures in Siddhivinayak Realties Pvt Ltd to Reliance Commercial Finance Ltd (RCFL) for Rs 376.18 crore to settle dues partly. In a regulatory filing, Mumbai-based D B Realty said that its subsidiaries have entered into a share purchase agreement on November 1 to sell their entire shareholding in equity shares and OCDs (optionally convertible debentures) in Siddhivinayak Realties to RCFL for Rs 376.18 crore. This has been done to "settle part of the group liabilities given by RCFL to the company, its subsidiary - Goregaon Hotel And Realty Pvt Ltd and its associate - Bamboo Hotel & Global Centre (Delhi) Pvt Ltd.

The funds were raised through the issue to the promoter group and investors in two phases in February and March, 2022

Shares of DB Realty surged 6% to hit an over 10-year high of Rs 156.90 on the BSE on Thursday

D B Realty on Friday said its partnership firm DBS Realty has received a letter of acceptance from Municipal Corporation of Greater Mumbai (MCGM) to construct 4,000 tenements.

D B Realty will allot 5 crore warrants to investors, including Rakesh Jhunjhunwala and his wife, within days of Godrej Properties cancelling its plans to invest Rs 700 crore in the company

DB Realty locked in upper circuit of 10% at Rs 63.40, has rallied 82% from Rs 34.75 on December 18