DB Realty buys L&T Bombay Developers for undisclosed sum

DB Realty Ltd said it acquired L&T Bombay Developers Pvt Ltd (LTBDPL), a special purpose vehicle formed by L&T Urban Infrastructure Ltd and Bombay Dyeing and Manufacturing Company, for an undisclosed sum.

LTBDPL had won the redevelopment rights of Middle Income Group Co-operative Housing Society Ltd located at MIG Colony in Bandra, Mumbai. The Society has a land of about 20,000 sq m, including recreation ground, for redevelopment.

On Thursday, DB Realty shares ended 0.3% down at Rs441 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.4% to 19,417 points.

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