News

August 14, 2019

DB Realty reported loss of in Q1 FY20


[ by Legal Era News Network ]

Vinod-Goenka-&-Shahid-Balwa

DB Realty reported a net loss of Rs. 60.29 crore in the first quarter of FY20. DB Realty co-founded by Shahid Balwa and Vinod Goenka established in 2007 has investments in certain subsidiaries and related parties aggregating to Rs 1,282.36 crore and loans and receivables outstanding aggregating Rs 516.46 crore as at June 30, 2019.

The company in its BSE filing said that the underlying projects in such entities are in the early stages of real estate development and are expected to achieve adequate profitability on substantial completion and/or have current market values of certain properties which are in excess of the carrying values.

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