Godrej Properties cancels Rs 700 cr investment plan in DB Realty

09 Feb 2022 CW Team

Godrej Properties Limited (GPL), one of India's leading real estate firms, has decided to cancel its investment plan of Rs 700 crore in DB Realty Limited to acquire a 10% stake in setting up a joint platform.

The company announced that it would invest Rs 400 crore for the acquisition of a 10% stake in DB Realty and Rs 300 crore to set up a joint platform for its slum redevelopment project.

According to the deal, the size of the joint platform between Godrej Properties and DB Realty was Rs 600 crore, Rs 300 crore each.

There was concern with respect to the structure of the plan, the rationale for the investment in DB Realty and the merits of investing through the joint platform.

The Board members have decided not to proceed with further evaluation of a potential investment in the equity capital of DB Realty and the joint platform.

The Board has authorised Godrej Properties to engage with DB Realty and to ensure appropriate and timely dissemination of the information by DG Realty to the stakeholders.

Executive Chairman of Godrej Properties, Pirojsha Godrej, said that the company will invest nearly Rs 400 crore in DB Realty for a 10% stake through the issue of warrants. With this deal, the company plans to enter into a slum redevelopment business.

The Board has approved the evaluation of a potential investment in DB Realty through warrants convertible into equity and setting up a Special Purpose Vehicle (SPV) as a joint venture (JV) with DB Realty to undertake slum rehabilitation and the Maharashtra Housing and Area Development Authority (MHADA) redevelopment projects.

Godrej has its presence across India, including Mumbai, Pune, Bengaluru and Delhi National Capital Region (NCR).

Image Source

Also read: Godrej Properties Q2 results: Net profit increases 403% at Rs 35.72 cr

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..