It gives us great pleasure to share with you the latest developments of DB Realty. Theyear 2016-2017 has seen a number of salient developments.
Last two quarters have been extremely challenging for the industry on the whole withthe introduction of MahaRERA and GST. We are happy to announce that we have successfullyregistered our projects under the new rule.
Neelkamal Realtors & Towers Pvt. Ltd. (a subsidiary of DB Realty Limited) hasentered into a development agreement with Indo Global Soft Solutions & TechnologiesPvt. Ltd. a Radius Company for its project One Mahalaxmi (Orchid Heights - Jacob CircleMahalaxmi). This project has commenced and has a construction area of approximately 32lakhs sq.ft.
This past year has seen notable construction progress on Ten BKC (Project Bandra) a DBRealty project in partnership with Radius Group. Work on site has progressed well with theslab concreting and reinforcement work in progress.
We are set to embark on a new journey in the coming year and are determined to leave nostone unturned to ensure that our projects redefine and enhance urban living in Mumbai.With construction underway on many projects we expect to see strong momentum in salesover the next year.
We look forward to bringing you number of new developments in the coming year.
|Sd/- ||Sd/- |
|VINOD GOENKA ||SHAHID BALWA |
|CHAIRMAN & MANAGING DIRECTOR ||VICE CHAIRMAN & MANAGING DIRECTOR |