DB Realty likely to sell Mumbai Hilton, shares jump

Shares of DB Realty saw strong buying interest in a buoyant market today. The Shahid Balwa and Vinod Goenka promoted firm plans to sell its Hilton Hotel in Mumbai for about Rs 400 crore, sources have told NDTV Profit.

At 2.15 pm, DB Realty stocks traded 6% higher at Rs 86.10 on the Bombay Stock Exchange against a 1.76% rise in the Sensex index.

DB Hospitality owns the 171-room five-star Hilton hotel in Mumbai. Its contract with Hilton ends in 2013.
The company is in talks with the Apeejay Surrendra Group, which owns Park Hotels, sources said. The Apeejay Group is keen to have a second hotel in Mumbai.

Both DB Realty and Park Hotel refused to comment on the story.