"The demerger will unlock the value of the real estate and hospitality business for the company s shareholders, enable a differentiated strategy to capture the huge potential of the Indian hospitality sector, and attract a distinct set of investors, partners, collaborators, and leadership talent focused on the hospitality business," D B Realty said.
This is the second joint venture by Hero realty with the same company. In April 2023, both the companies had entered into JV to develop an approximately 2 million square feet targeting revenue of Rs 2000 crore.