D B Realty Ltd Receives Letter of Acceptance from Brihanmumbai Municipal Corporation for Renting Out 186.52 Acres of Land for INR 248 Crores Annually

D B Realty Ltd, a company in which the reporting entity holds 100% shares, has received a Letter of Acceptance (LOA) from Brihanmumbai Municipal Corporation (BMC) for renting out approximately 186.52 acres of land adjoining Mira Road Railway Station. The temporary lease agreement lasts for three years with an option to extend for another two years. Mira is expected to receive an average of INR 248 Crores per annum as license fee for the first five years. The land, which is largely situated in the residential zone and has over 50 million sq feet of development potential, is valued at approximately INR 20,000 per sq feet. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.