Today, D B Realty hit an upper circuit limit of 5 per cent at Rs 90.15 after it reported that Adani Realty is advancing a merger with the Mumbai-based realty company. Adani Realty is a leading infrastructure and development entity of Adani Group. The project of D B Realty has developed close to 15 Mn. Sq. Ft. Also, the real estate space under infrastructure development is close to 18.8 Mn Sq Ft, including projects under Mumbai, Pune Ahmedabad, Mumbai & Gurugram.
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D B Realty will be renamed Adani Realty after the merger process. The deal will allow the back-door listing of Adani Realty on the stock exchanges. D B Realty group promoter led by Vinod Goenka Family with the stakeholder of 68.89 per cent
DB Realty company reported a net profit of Rs 12 crore in the first quarter of June 2022 against a net loss of Rs 92.38 crore in the first quarter of June 2021. In comparison, net sales declined 0.14 per cent to Rs 6.94 crore in the first quarter of June 2022 over the first quarter of June 2021.
