Valor Estate and Macrotech Developers Team Up for Luxury Mumbai Residential Project
Valor Estate, formerly DB Realty, has partnered with Macrotech Developers (Lodha Group) to develop a high-end residential project in Malad West, Mumbai, worth Rs 3500 crore.
Real EstateResidential ProjectMumbaiValor EstateMacrotech DevelopersLodha GroupReal EstateJul 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 key milestone for Valor Estate as they continue to implement their 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, which aligns with their 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. Sources have revealed that Valor Estate and Macrotech 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 is a leading real estate developer in India, formerly known as DB Realty. The company has a significant presence in the Mumbai real estate market, with a focus on developing high-end residential projects.
Macrotech Developers, also known as Lodha Group, is a prominent real estate developer in India, with a strong presence in the Mumbai and Pune markets.
Valor Estate is a reputed real estate developer in India, recognized for its commitment to quality and customer satisfaction. The company has a diverse portfolio of projects, including residential, commercial, and retail developments.
Macrotech Developers (Lodha Group) is a leading real estate developer in India, known for its iconic projects and commitment to excellence.
Frequently Asked Questions
What is the gross development value of the residential project?
The gross development value of the project is estimated to be up to Rs 3500 crore.
What is the location of the residential project?
The project is located in Malad West, Mumbai.
What is the estimated net revenue for Valor Estate from this project?
The estimated net revenue for Valor Estate stands at approximately Rs 600 crore.
What is the strategic goal of Valor Estate's partnership with Macrotech Developers?
The partnership enables Valor Estate to unlock part of its extensive land bank, which aligns with their strategic goal.
What is the timeline for the completion of the project?
The project is expected to be completed within four to five years from launch.
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