Mumbai, Feb. 27 -- The projects comprise the redevelopment of Old Rajinder Nagar staff quarters valued at Rs 437.79 crore and Safdarjung Development Area staff quarters valued at Rs 337.48 crore. The order value excludes marketing fees, which will be determined at a later stage.

Both contracts have been awarded in the normal course of business and will be executed under the project management consultancy (PMC) mode. The redevelopment will be undertaken on a self-sustainable model, wherein a portion of the built-up area (BUA) will be monetized to fund the project cost, while the balance BUA will be handed over for DDA staff use.

The Old Rajinder Nagar project involves 117 dwelling units with an envisaged BUA of around 99,635 square meter...