Latest news with #ValorEstate
Business Upturn
4 days ago
- Business
- Business Upturn
Valor Estate shares in focus after receiving corrigendum for Rs 7,000 crore BMC housing project
By Aditya Bhagchandani Published on June 5, 2025, 12:32 IST Shares of Valor Estate Limited (formerly D B Realty) were in focus today after the company announced it had received a corrigendum to the Letter of Acceptance from the Brihanmumbai Municipal Corporation (BMC) for its large-scale housing project in Mumbai. In an exchange filing dated June 5, the company said the project involves the development of approximately 13,374 affordable housing tenements under the PAP (Project Affected Persons) Scheme in Zone IV. The project carries a gross development value of approximately Rs 7,000 crore and is expected to be substantially revenue and profit accretive for Valor Estate. Valor Estate holds a 75% economic interest in the project, which aligns with its strategic focus on high-impact urban transformation projects. The real estate firm, known for its mixed-use developments and government collaborations in Mumbai, emphasized that this initiative strengthens its pipeline of large-scale infrastructure and housing ventures. This update comes in continuation of the company's earlier disclosure dated October 11, 2024, confirming its selection for the project. The revised letter dated June 4, 2025, affirms BMC's commitment to proceed with the execution. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
11-05-2025
- Business
- Time of India
L&T Realty acquires 34-acre land parcel in Panvel near Mumbai
L&T Realty , the real estate arm of Larsen & Toubro , has acquired a 34-acre land parcel in Panvel near Mumbai from three different landowners in a transaction valued at over Rs 102 crore, said persons familiar with the development. This marks the company's first outright land purchase since its inception, signalling a strategic shift in its growth approach. Until now, L&T Realty has exclusively followed joint development agreements (JDAs) and joint venture (JV) partnerships to expand its portfolio, avoiding direct land acquisition. The land parcel, located in proximity to the riverfront, is currently designated as an industrial zone. However, it remains unclear whether the company intends to seek a change of land use for developing a residential project on the site or if it plans to utilise the plot for setting up a precast manufacturing facility to support its construction operations. "While the deal value may not appear substantial in comparison to L&T Realty's ongoing large-scale projects, it serves as a clear signal of the company's strategic direction and how its future growth roadmap is likely to be shaped,' said one of the individuals cited above. The company has so far been betting high on alliances and joint development pacts. Last year, L&T Realty and Valor Estate entered into a binding agreement to jointly develop an over Rs 8,500-crore project on a 7.5-acre land parcel at Bandra Reclamation in Mumbai's Bandra west locality, Prior to that, the company entered into an agreement to jointly develop a 12.2-acre land parcel in Thane's Panchpakhadi locality. The project involving rehabilitation of a large layout of slums has a total development potential of over 3.12 million sq ft. L&T Realty declined to comment for the story. Established in 2011, L&T Realty has a portfolio spanning 70 million sq ft across residential, commercial and retail developments and the company is currently present in Mumbai, Navi Mumbai , NCR, Bengaluru, Hyderabad and Chennai. Panvel is fast emerging as a key real estate destination in the Mumbai Metropolitan Region, driven by major infrastructure projects. The upcoming Navi Mumbai International Airport , CIDCO's NAINA development along with the recently inaugurated Mumbai Trans Harbour Link, has significantly boosted the area's connectivity. Transactions for land parcels have started to gather momentum again with many deals including outright acquisitions and joint ventures in key property markets of Mumbai, Pune, Chennai, Hyderabad, and Bangalore either being closed or expected to close soon. The increased demand for land parcels is led by sustained growth in the housing market and buoyed warehousing and data centres space.
