The project entails construction, completion and handing over of 4,000 tenements of carpet area size 27.88 metre along with transfer of land and completed tenements to Municipal Corporation of Great Mumbai in village Chandivali in Zone-V
DB Realty share spiked five percent hitting upper circuit of Rs 106.35 on NSE after the company bagged a project worth Rs 1,584 cr from Municipal Corporation of Great Mumbai (MCGM).
The project entails construction, completion and handing over of 4,000 tenements of carpet area size 27.88 metre along with transfer of land and completed tenements to MCGM in village Chandivali in Zone-V, the company said in an exchange filing.
“The firm shall receive land and construction transferable development rights of 1.56 million square feet and premium per tenement at Rs 39.60 lakh aggregating to Rs 1,584 crore which shall be paid by MCGM in the form of credit note…” it added.
The stock was trading at Rs 106.70 per share on NSE, up Rs 5.05 or five percent at 13:28 hours.
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