Valor Estate and Macrotech Developers Partner for Luxury Residential Project in Mumbai
Valor Estate and Macrotech Developers have entered into a binding agreement for a prestigious residential project in Malad West, Mumbai.
Real EstateMumbaiResidential ProjectValor EstateMacrotech DevelopersReal Estate NewsJul 12, 2024
The project is slated for launch within the next 12 months, with an anticipated completion timeframe of four to five years. This strategic partnership marks a significant milestone for Valor Estate as it continues to implement its asset/capital-light operating model strategy.
According to 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, aligning with its strategic goal.
Valor Estate's portfolio of partners includes industry players such as Prestige Estate, Adani Realty, Godrej Properties, Man Vastucon, and now, its maiden partnership with Macrotech Developers. Sources suggest that both parties will explore more projects in Mumbai under this framework.
In a separate development, 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, previously known as DB Realty, had faced insolvency proceedings initiated by the Bank of India. However, the National Company Law Appellate Tribunal (NCLAT) reportedly nullified the insolvency resolution following a settlement with the lender.
Macrotech Developers, also known as Lodha Group, is a leading real estate developer in India, known for its luxury residential projects. Valor Estate, previously known as DB Realty, is a prominent real estate developer with a focus on residential and commercial projects in India.
Frequently Asked Questions
What is the estimated gross development value of the project?
The estimated gross development value of the project is up to Rs 3500 crore.
What is the timeline for the project launch and completion?
The project is slated for launch within the next 12 months, with an anticipated completion timeframe of four to five years.
What is the partnership structure between Valor Estate and Macrotech Developers?
Valor Estate will receive up to 18% of excess net revenue, in addition to Rs 100 crore towards the land cost.
What is Valor Estate's current financial performance?
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.
What is the background of Valor Estate's insolvency proceedings?
Valor Estate, previously known as DB Realty, had faced insolvency proceedings initiated by the Bank of India, but the National Company Law Appellate Tribunal (NCLAT) reportedly nullified the insolvency resolution following a settlement with the lender.
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