Mumbai, August 16th: Valor Estate Ltd, formerly known as DB Realty Ltd, reported a consolidated net loss of Rs 13.60 crore for the first quarter of this fiscal year. This marks a reduction from the Rs 22.54 crore loss in the same period last year. The company’s performance was hindered by rising expenses, which surged to Rs 108.99 crore from Rs 33.06 crore in the previous year. Despite the losses, the firm’s revenue prospects are on the upswing, driven by new partnerships.
The Mumbai-based real estate developer achieved significant growth in total income, which increased to Rs 93.12 crore from just Rs 8.69 crore in the corresponding period last year. Valor Estate continues to focus on expanding its residential and commercial real estate portfolio, which now spans over 100 million square feet.
Currently, it has 15.5 million square feet of saleable residential property and 2.3 million square feet of commercial property in various stages of development. These projects are expected to bring in an estimated Rs 13,650 crore in revenue.
The company is banking on joint developments to boost its revenues. Valor Estate recently signed agreements with L&T Realty and Lodha Group to develop 5.7 million square feet of carpet area. This move is expected to generate Rs 6,000 crore in revenue for the firm, according to the company’s Vice Chairman and Managing Director, Shahid Balwa.
Balwa expressed optimism for the future, stating that the company plans to form additional partnerships in the coming months to unlock the potential of over 600 acres of land it owns. He highlighted key projects such as Aerocity Delhi and Empire Worli as critical to the company’s efforts to strengthen its balance sheet.
The company’s strategy of partnering with leading developers such as Prestige Estates, Adani Realty, Lodha Group, and L&T Realty positions it well for growth, despite the short-term financial challenges posed by higher operating costs. Valor Estate’s management remains confident that its recent efforts will yield positive results in the upcoming quarters as these projects come to fruition.
