The merging of Adani and DB (Dynamix Balwa) Realty is one of the biggest news. This integration will become India’s largest deal in the real estate sector. Adani Realty is an extended company under the wing of Gautam Adani. According to the sources, Adani Realty is in talks to integrate with DB Realty.
However, the MD of DB (Dynamix Balwa) Realty, Sahid Balwa, stated that he wouldn’t like to comment on any news. Further, an email query is sent to the company’s secretary, which has not been answered yet. Also, an email is sent to the Adani Group spokesperson, but it is not answered yet.
The Dynamix Balwa Realty has a portfolio of about 628 crores and 100 million sq. ft. of premium locations in Mumbai. It is also said that after the integration, DB Realty will be known as Adani Realty.
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It is also said that Adani will likely add more funds to the high-end projects of DB Realty. This step will also provide fresh equity to the new investors.
Before Adani Realty, DB Realty also approached Godrej, but nothing was taken forward with them. Several big projects are running by DB Realty like Mahalaxmi Racecourse, BKC and near ITC Grand Maratha Hotel at Andheri. Under the BKC project, DB Realty has to rehabilitate a big slum to convert the area into a massive mega-corporate park.
The DB realty BKC project is worth more than Rs. 3,500 crores. DB Realty expects funds of Rs. 6,500 crores to complete all its premium projects soon. Adani Realty also has three premium projects in Mumbai on the site of Ghatkopar, western suburbs and central Mumbai.
