Godrej Properties decides not to go ahead with DB Realty investment

The real estate firm said the decision was taken after receiving shareholders' feedback. On Friday, the company's scrip fell nearly 10% on BSE

Real estate firm Godrej Properties on Friday said it has decided not to go ahead with DB Realty investment.

The company said the decision was taken after receiving shareholders' feedback. On Friday, the company's scrip fell nearly 10% on BSE.

"After prolonged discussions and taking into consideration the feedback from the stakeholders and minority investors, the Board has decided not to proceed with any further evaluation of potential investment in the equity capital of the DB Realty and the Platform.

"The Company may however continue to explore the possibility of evaluating projects with DB Realty

on a case to case basis," said Godrej Properties