Kingmaker Developers is a company of the Rustomjee Group.

"The above transaction will lead to considerable amount of free cashflow to the company. Further, the company has been carrying the entity as “Asset held for sale” till now and the transaction will help to clean up the DBR Balance Sheet and close the transaction with Rustomjee,” D B Realty said in a statement.

DB Realty is engaged primarily in the business of real estate construction, development and other related activities.

The company had reported a consolidated net loss of Rs 22.55 crore in the quarter ended June 2023 as against net profit of Rs 12.00 crore during the previous quarter ended June 2022. Sales declined 64.99% to Rs 2.43 crore in Q1 FY24 over Q1 FY23.