Godrej Properties to acquire 10% stake in DB Realty for Rs 400 cr

04 Feb 2022 CW Team

The board of directors of DB Realty and the board of directors of Godrej Properties is planning to subscribe to the number of warrants released by DB Realty which will be convertible into the number of equity shares aggregating about 10% of the released and paid-up capital of DB Realty for an aggregate amount of nearly Rs 400 crore; and install a special purpose vehicle (SPV) as a joint enterprise with DB Realty to together take up slum rehabilitation and Maharashtra Housing & Area Development Authority (MHADA) redevelopments projects, by leveraging the respective core expertise of the parties.

Godrej Properties to subscribe to 5,00,00,000 warrants convertible into equity shares in DB Realty corresponding to about 10% of the released and paid-up expanded capital of DBR for an aggregate amount of approximately Rs 400 crore, DB Realty said in a separate regulatory filing.

GPL and DBR will individually contribute an additional 300 crore towards the equity platform concentrated on redevelopment opportunities in Mumbai. The planned SPV is yet to be included and will be installed at a later stage.

The equity platform will serve as a strategic special purpose vehicle providing GPL with ROFR (Right of First Refusal) for all slum rehabilitation and MHADA redevelopment projects to be recognised by DBR across Mumbai under a 50:50 equity association with 10% development management fees to GPL and a service fee equal to 5% of the income of the project to be paid to DBR by the SPV. They believe this strategic collaboration will permit each firm to utilise its complementary strengths to enhance the amount of successful slum rehabilitation and MHADA redevelopment projects in the city, Mohit Malhotra, MD & CEO, Godrej Properties, told the media.

Image Source

Also read: MHADA approves redevelopment of old buildings in Mumbai

Godrej Properties Ltd (GPL) plans to pump in Rs 400 crore to procure approximately 10% stake in DB Realty (DBR) and will additionally install a Rs 600 crore 50-50 joint platform to take up slum redevelopment projects, the firm said in a Bombay Stock Exchange (BSE) filing. The board of directors of DB Realty and the board of directors of Godrej Properties is planning to subscribe to the number of warrants released by DB Realty which will be convertible into the number of equity shares aggregating about 10% of the released and paid-up capital of DB Realty for an aggregate amount of nearly Rs 400 crore; and install a special purpose vehicle (SPV) as a joint enterprise with DB Realty to together take up slum rehabilitation and Maharashtra Housing & Area Development Authority (MHADA) redevelopments projects, by leveraging the respective core expertise of the parties. Godrej Properties to subscribe to 5,00,00,000 warrants convertible into equity shares in DB Realty corresponding to about 10% of the released and paid-up expanded capital of DBR for an aggregate amount of approximately Rs 400 crore, DB Realty said in a separate regulatory filing. GPL and DBR will individually contribute an additional 300 crore towards the equity platform concentrated on redevelopment opportunities in Mumbai. The planned SPV is yet to be included and will be installed at a later stage. The equity platform will serve as a strategic special purpose vehicle providing GPL with ROFR (Right of First Refusal) for all slum rehabilitation and MHADA redevelopment projects to be recognised by DBR across Mumbai under a 50:50 equity association with 10% development management fees to GPL and a service fee equal to 5% of the income of the project to be paid to DBR by the SPV. They believe this strategic collaboration will permit each firm to utilise its complementary strengths to enhance the amount of successful slum rehabilitation and MHADA redevelopment projects in the city, Mohit Malhotra, MD & CEO, Godrej Properties, told the media. Image Source Also read: MHADA approves redevelopment of old buildings in Mumbai

Infrastructure Urban

03 Nov 2025

Vice-President Backs Global Unity at IN-STEP 2025

Vice-President of India, Shri C. P. Radhakrishnan, addressed delegates at the 3rd edition of the International Strategic Engagement Programme (IN-STEP) held at the Vice-President’s Enclave in New Delhi. IN-STEP serves as a key dialogue platform for senior national security officers from India and friendly foreign nations. The current edition hosts 44 delegates, including 32 international participants representing 24 Global South countries. Commending the joint efforts of the National Defence College, National Security Council Secretariat, Ministry of External Affairs, and Ministry of Defen..

Infrastructure Urban

03 Nov 2025

India to Host Global Maritime Events in Visakhapatnam

India will host three major international maritime events in February 2026 at Visakhapatnam — the International Fleet Review (IFR) 2026, Exercise MILAN 2026, and the Indian Ocean Naval Symposium (IONS) Conclave of Chiefs. Scheduled from 15 to 25 February 2026, this marks the first time India will conduct all three significant maritime gatherings simultaneously. The events embody Prime Minister Shri Narendra Modi’s MAHASAGAR vision — Mutual and Holistic Advancement for Security and Growth Across Regions — announced in 2025. The MAHASAGAR framework extends India’s SAGAR (Security and ..

Infrastructure Urban

03 Nov 2025

Heavy Industries Ministry Frees 4.4 Million Sq Ft Under SCDPM 5.0

Inspired by the Prime Minister’s vision to institutionalise Swachhata and clear long-pending matters, the Ministry of Heavy Industries (MHI), along with its Central Public Sector Enterprises (CPSEs) and Autonomous Bodies (ABs), actively participated in the fifth consecutive year of the Special Campaign for Disposal of Pending Matters (SCDPM) 5.0, held from 2 to 31 October 2025. Throughout the campaign, MHI worked closely with the Department of Administrative Reforms and Public Grievances, reporting daily progress on a dedicated monitoring portal. Shri Bhupathi Raju Srinivasa Varma, Minister..