Valor Estate , a prominent real estate developer, has received approval for a significant affordable housing project valued at ₹2,000 crore. The company has partnered with GHV Infrastructure for this ambitious development, targeting completion by June 2025.

Project Details

The project, located in Malad (East), Mumbai, aims to develop approximately 13,374 affordable housing tenements under the PAP (Project Affected People) Scheme. This initiative aligns with the growing demand for accessible housing solutions in one of India's most populous cities.

Partnership and Execution

Valor Estate has appointed GHV Projects Ltd. (GHV) as the engineering, procurement, and construction partner for the project. GHV is described as a leading EPC company with a proven track record across domestic and international markets, bringing valuable expertise to the venture.

Project Timeline and Scope

The Municipal Corporation of Greater Mumbai (MCGM) has issued a Letter of Acceptance (LOA) for the project. Key details include:

Corporate Governance

In line with regulatory requirements, Valor Estate (formerly known as D B Realty Limited) has duly informed the stock exchanges about this development. The company's Vice Chairman & Managing Director, Shahid Balwa, signed off on the regulatory filing, emphasizing the company's commitment to transparency and compliance with SEBI regulations.

This affordable housing project represents a significant undertaking for Valor Estate, potentially impacting its business operations and financial outlook in the coming years. As the project progresses, it will be interesting to observe its impact on Mumbai's real estate landscape and its contribution to addressing the city's housing needs.

Valor Estate , formerly known as D B Realty Limited, has reported a stellar performance for the first quarter, marking a significant turnaround in its operations. The company's financial results, released on August 14, showcase robust growth and strategic developments.

Record-Breaking Revenue

Valor Estate delivered an unprecedented quarterly revenue of ₹840.33 crore, representing a staggering 123-fold increase compared to ₹6.79 crore in the same quarter of the previous year. This remarkable surge was primarily driven by the company's 'Ten BKC' project, which contributed ₹836.36 crore following the receipt of a partial occupancy certificate.

Profitability and Financial Highlights

• EBITDA rose 8-fold to ₹45.00 crore, up from ₹5.00 crore in the same quarter last year.
• The company reported a profit after tax of ₹12.51 crore.
• Earnings per share (EPS) for the quarter stood at ₹0.23.

Strategic Developments

Hospitality Business Demerger

Valor Estate completed the demerger of its hospitality business, with NCLT approval received on June 18. As part of this process, 5.39 crore Advent Hotels International shares were allotted to Valor shareholders. The hospitality segment generated ₹80.43 crore in revenue with an EBITDA of ₹25.11 crore for the quarter.

Project Advances and Debt Management

The company received a significant project advance of ₹700.00 crore for its Malad East PAP project development. Valor Estate maintains a conservative debt-to-equity ratio of 0.21:1 in its real estate operations, positioning it as one of the least leveraged companies in the sector.

Management Commentary

Vinod Goenka, Chairman and Managing Director, commented on the results: "Our development strategy remains anchored on asset-light execution and collaborative partnerships, with a focus on delivering long-term value to our shareholders."

Shahid Balwa, Vice Chairman and Managing Director, added: "We remain focused on monetising our extensive land reserves and forging strategic partnerships to accelerate the scale-up of brownfield developments."

Corporate Governance and Leadership

The Board of Directors has approved the re-appointment of Vinod K. Goenka as Executive Chairman cum Managing Director for a three-year term starting September 1, subject to shareholder approval.

Employee Stock Option Plan

The company's Nomination & Remuneration Committee has approved the grant of 10,00,000 stock options to eligible employees under the 'Valor Estate Limited - Employee Stock Option Plan 2024' at an exercise price of ₹90.00 per option.

Valor Estate Limited continues to demonstrate strong growth potential in the real estate sector, with its strategic initiatives and robust financial performance positioning it for sustained success in the coming quarters.