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.
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