Please help about valuation for company when it has a real estate project

I am trying to do valuation for a firm which do business on consumer sector. This company also has a real estate project and it make me confused.
For real estate project, I calculate NPV (FCFE method) for this project and plus this with initial equity investment. Then divides the result by share number. For example, total investment capital for this project is 10m (3m is equity capital and 7m is debt), number of share is 5 million. NPV of this project is 2m. So the real estate contributes (2+3)/5 = 1 usd/share. I do valuation for consumer business and it resulted 10 usd/share. So I conclude that intrinsic value is 11 usd/share. Is it right?
Please kindly share some your experience with me when do valuation for this type of company or company which operates in vary industrial (for example: company do both business in construction, real estate, hydropower plant….)
Thanks you so much