Valor Estate and Macrotech Developers Join Forces for Luxury Mumbai Residential Project
Valor Estate's partnership with Macrotech Developers marks a significant milestone in their strategic growth plan, unlocking a prime 5.4-acre land parcel in Mumbai.
Mumbai Residential ProjectValor EstateMacrotech DevelopersLuxury Real EstateIndian Real Estate IndustryReal Estate MumbaiJul 12, 2024
The project is slated to launch within the next 12 months, with an anticipated completion timeframe of four to five years. This development marks a strategic move for Valor Estate as they continue to implement their asset/capital-light operating model strategy.
As per the terms of the agreement, Valor Estate will receive up to 18% of excess net revenue, in addition to Rs 100 crore towards the land cost. The estimated net revenue for Valor Estate stands at approximately Rs 600 crore, with no further capital deployment required from their end. This partnership enables Valor Estate to unlock part of its extensive land bank, which will be in line with the strategic goal.
Valor Estate's portfolio of partners includes industry players such as Prestige Estate, Adani Realty, Godrej Properties, Man Vastucon, and now, their maiden partnership with Macrotech Developers. The company is committed to delivering high-quality projects, and this partnership is a testament to their dedication to excellence.
In addition, sources have revealed that Valor Estate and Macrotech Developers will explore more projects in Mumbai under this framework. This partnership has the potential to create a new benchmark for luxury residential projects in the city.
In other news, Valor Estate had announced the transfer of 186 acres of land to the Brihanmumbai Municipal Corporation (BMC) at a valuation of Rs 248 crore for a period of three years, extendable up to five years.
The company reported consolidated quarterly numbers with net sales reaching Rs 144.22 crore in March 2024, marking a 147.16% increase from Rs 58.35 crore in March 2023. Despite a quarterly net loss of Rs 6.54 crore in March 2024, this was a significant improvement from the Rs 51.62 crore loss reported in March 2023. Additionally, the EBITDA stood at Rs 41.03 crore in March 2024, reflecting a 251.79% increase from Rs 27.03 crore in March 2023.
Information
Valor Estate, formerly known as DB Realty, is a leading real estate developer with a strong presence in Mumbai. The company is committed to delivering high-quality projects that meet the evolving needs of homeowners.
Macrotech Developers, also known as Lodha Group, is a well-established real estate developer with a strong presence in Mumbai. The company is known for its commitment to excellence and has delivered several iconic projects in the city.
Valor Estate is a leading real estate developer with a strong presence in Mumbai. The company is committed to delivering high-quality projects that meet the evolving needs of homeowners.
Macrotech Developers, also known as Lodha Group, is a well-established real estate developer with a strong presence in Mumbai. The company is known for its commitment to excellence and has delivered several iconic projects in the city.
Frequently Asked Questions
What is the gross development value of the Mumbai residential project?
The gross development value of the Mumbai residential project is expected to be up to Rs 3500 crore.
Who are the partners involved in the project?
The partners involved in the project are Valor Estate and Macrotech Developers (Lodha Group).
What is the estimated net revenue for Valor Estate from the project?
The estimated net revenue for Valor Estate from the project is approximately Rs 600 crore.
What is the completion timeframe for the project?
The anticipated completion timeframe for the project is four to five years.
What is the strategic significance of this partnership for Valor Estate?
This partnership enables Valor Estate to unlock part of its extensive land bank, which will be in line with the strategic goal of implementing their asset/capital-light operating model strategy.
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