Net loss of D B Realty reported to Rs 51.62 crore in the quarter ended March 2023 as against net profit of Rs 506.30 crore during the previous quarter ended March 2022. Sales declined 70.18% to Rs 58.35 crore in the quarter ended March 2023 as against Rs 195.66 crore during the previous quarter ended March 2022.

For the full year,net loss reported to Rs 90.38 crore in the year ended March 2023 as against net profit of Rs 26.93 crore during the previous year ended March 2022. Sales rose 218.21% to Rs 698.24 crore in the year ended March 2023 as against Rs 219.43 crore during the previous year ended March 2022.

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Net profit of D B Realty declined 98.99% to Rs 2.30 crore in the quarter ended March 2023 as against Rs 226.96 crore during the previous quarter ended March 2022. There were no Sales reported in the quarter ended March 2023 as against Rs 1.12 crore during the previous quarter ended March 2022.

For the full year,net profit reported to Rs 35.17 crore in the year ended March 2023 as against net loss of Rs 75.14 crore during the previous year ended March 2022. Sales declined 7.01% to Rs 3.58 crore in the year ended March 2023 as against Rs 3.85 crore during the previous year ended March 2022.

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The real estate developer said that it has signed a securities purchase agreement (SPA) with Prestige Falcon Realty Ventures () for sale of D B Realty's 50 % holding in Prestige (BKC) Realtors. Prestige (BKC) Realtors is presently executing BKC 01 Project at Bandra Kurla Complex, Mumbai, Maharashtra.

The company said that the completion of sale and transfer of all the shares in favour of Prestige Falcon shall take place on a date which is within 60 days from from the date of the delivery of the conditions precedent satisfaction notice, unless otherwise mutually agreed between parties.

Total consideration to be received from sale/disposal of sharesis approximately Rs 978.70 crore.

The company has also enetered into a deed of transfer of partnership interest with Prestige Falcon Realty Ventures and Prestige Estates Projects for transfer of its 50% stake in Turf Estate Joint Venture LLP.

Turf Estate is currently executing Turf Project at Dr. E. Moses Road, Mahalaxmi, Mumbai, Maharashtra.

The completion of transfer of interest in LLP by the company in favour of the buyers shall take place on a date which is within 60 days from from the date of the delivery of the conditions precedent satisfaction notice, unless otherwise mutually agreed between parties.

Total consideration to be received from the transaction is Rs 197.79 crore.

The real estate developer said that these funds would be used for reducing the debt of D B Realty or its related entities and for investments in future projects.

DB Realty is engaged primarily in the business of real estate construction, development and other related activities.

The company's reported a consolidated net profit of Rs 565.80 crore in Q2 FY23 as compared to Rs 352.10 crore in Q2 FY22. Net sales jumped 15.5% year on year to Rs 10.16 crore in quarter 30 September 2022.

The scrip rose 0.91% to currently trade at Rs 86.42 on the BSE.

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ICICI Lombard General Insurance Company Ltd, ISGEC Heavy Engineering Ltd, Prince Pipes & Fittings Ltd and eClerx Services Ltd are among the other gainers in the BSE's 'A' group today, 29 May 2023.

D B Realty Ltd spiked 8.87% to Rs 83.96 at 11:45 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.41 lakh shares were traded on the counter so far as against the average daily volumes of 45429 shares in the past one month.

ICICI Lombard General Insurance Company Ltd surged 8.61% to Rs 1194.6. The stock was the second biggest gainer in 'A' group. On the BSE, 1.15 lakh shares were traded on the counter so far as against the average daily volumes of 16845 shares in the past one month.

ISGEC Heavy Engineering Ltd soared 8.13% to Rs 552.7. The stock was the third biggest gainer in 'A' group. On the BSE, 31481 shares were traded on the counter so far as against the average daily volumes of 8542 shares in the past one month.

Prince Pipes & Fittings Ltd added 7.83% to Rs 657.95. The stock was the fourth biggest gainer in 'A' group. On the BSE, 39245 shares were traded on the counter so far as against the average daily volumes of 13859 shares in the past one month.

eClerx Services Ltd gained 7.39% to Rs 1651.95. The stock was the fifth biggest gainer in 'A' group. On the BSE, 25308 shares were traded on the counter so far as against the average daily volumes of 2454 shares in the past one month.

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