What do you mean by the term Builder-Promoter?

The term Builder-Promoter is defined under the Bye-law No. 3(xiii) of the Model Bye-laws of the society. A “Builder- Promoter” means a person and includes a partnership firm or a body or association of persons, [whether registered or not] who constructs or causes to be constructed a block or building of flats [or apartments] for the purpose of selling some or all of them to other persons, or to a company, Co-operative society or other association of persons, and includes his assignees; and where the person who builds and the person who sells are different persons, the term includes both.