D B Realty incorporated as a public limited company under the Indian Companies Act, 1956 on January 8, 2007 and received Certificate for Commencement of business on February 28, 2007. It was converted to a private company and the company's name was changed to D B Realty Private Limited, pursuant to a shareholders resolution dated May 14, 2007 and received a fresh Certificate of Incorporation on July 9, 2007. Subsequently, the company was converted to a public company and the name was changed to D B Realty Limited, pursuant to a shareholders resolution dated September 5, 2009 and received a fresh Certificate of Incorporation on September 23, 2009.

It is a real estate development company that focuses on residential, commercial, retail and other projects, such as mass housing and cluster redevelopment, in and around Mumbai. As of December 31, 2009, the company has eleven ongoing projects, aggregating approximately 19.51 million sq. ft. of saleable area, eight forthcoming projects, aggregating approximately 19.28 million sq. ft. of saleable area and six upcoming projects, aggregating approximately 22.24 million sq. ft. of saleable area. They are jointly promoted by Vinod K. Goenka and Shahid U. Balwa, whose families have been in the real estate and related businesses for more than 25 years and 95 years, respectively.

The company’s residential portfolio currently covers projects catering to customers across all income groups. In their commercial portfolio, they build and sell customized office space as per the requirements of buyers. Their retail portfolio includes development of shops in selected locations. Their other projects currently include (a) development of mass housing for the Mumbai local authority and generating transferable development rights, which are to develop additional built-up area in parts of Mumbai, generally north of the relevant development, and (b) cluster redevelopment of old and dilapidated structures in Mumbai, which grants us additional floor space indices.

While conceptualizing a project, they rely on a research-based approach for layout planning, FSI utilization, unit size, fittings and interiors, and determining sales and marketing strategy. Depending on the level of competition, regulatory practices and consumer preferences, they alter their development mix and product design to ensure that their products cater to customer requirements.

As of December 31, 2009, their promoters and promoter group companies have collectively developed approximately 15.90 million sq. ft. of real estate development, which includes 15.26 million sq. ft. of residential developable area, 0.37 million sq. ft. of commercial and retail developable area and 0.27 million sq. ft. of hospitality developable area.

In September 2010, the company has acquired 100% stake in L&T Bombay Developers (LTBDPL), a special purpose vehicle (SPV) formed by L&T Urban Infrastructure (LTUIL) and Bombay Dyeing and Manufacturing Company (BDMC) for redevelopment of Middle Income Group,  MIG Colony, situated at Bandra (East), Mumbai.

Milestones

• March, 2007: Consolidation of all FDI compliant projects of the group under the company

• April, 2007: Investment by IL&FS Trust Company, IL&FS Realty Fund LLC, Bollywood Mauritius Holdings and Trinity Capital (Eleven) in 8,10,000 compulsorily convertible preference shares and 8,10,000 equity shares, at Rs 4,000 each, aggregating to Rs 6,480 million

• December 2008: Received Certificate of ISO 9001:2008 certifying the quality management system of the company

• March 2009: Investment, by way of subscription to 9,37,500 compulsory convertible debentures by Walkinson Investments for an aggregate amount of Rs 5,250 million

• September 2009: Conversion of an aggregate of 8,10,000 convertible preference shares into 8,10,000 equity shares by IL&FS Trust Company, IIRF Holdings VI, Bollywood Mauritius Holdings and Trinity Capital (Eleven)

• September 2009: Conversion of an aggregate of 937,500 compulsory convertible debentures into 937,500 equity shares by Walkinson Investments

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