Indiabulls Real Estate tumbles after weak Q3 outcome
Jan 31, 2014
Source : Business Standard

 

MUMBAI: Indiabulls Real Estate tumbled 4.97% to Rs 53.55 at 15:10 IST on BSE after consolidated net profit fell 45.73% to Rs 28.36 crore on 31.66% increase in total income to Rs 462.56 crore in Q3 December 2013 over Q3 December 2012.

The result was announced during trading hours today, 30 January 2014.

Meanwhile, the BSE Sensex was down 165.69 points, or 0.80%, to 20,481.61.

On BSE, so far 12.13 lakh shares were traded in the counter, compared with an average volume of 10.15 lakh shares in the past one quarter.

The stock hit a high of Rs 55.50 and a low of Rs 51.90 so far during the day. The stock hit a 52-week high of Rs 87.30 on 17 May 2013. The stock hit a 52-week low of Rs 50.15 on 10 April 2013.

The stock had underperformed the market over the past one month till 29 January 2014, falling 18.80% compared with the Sensex's 2.58% fall. The scrip had underperformed the market in past one quarter, sliding 10.41% as against Sensex's 1.35% fall.

The small-cap company has an equity capital of Rs 84.80 crore. Face value per share is Rs 2.

Indiabulls Real Estate's net debt rose 3.17% to Rs 2113 crore in Q3 December 2013 over Q3 December 2012.

The company said it sold 14.85 million square feet (msft) area of approved under construction projects for sales value of Rs 11082 crore. It said 9.93 msft area remains to be sold with an estimated value of Rs 12624 crore at ongoing sale rates.

Indiabulls Real Estate is one of the largest real estate company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development.

 

 

 

 

Latest Realty News

New norms needed for city, says state
Jan 31, 2014
MUMBAI: With the Rajiv Awaas Yojana (RAY), the Union government’s flagship scheme for ‘slum-free India’ by 2022, proving to be a non-starter in Mumbai, the state government now plans to ask the Centre to concede to a separate set of norms for the city.
Mumbai finds no takers for super-luxury Rs 100-crore palatial flats
Jan 31, 2014
MUMBAI: The palatial 15,000 sq ft duplexes in the under-construction 55-storey Sasen building on tony Napean Sea Road offers the country’s costliest residences at Rs 100-120 crore each. But for six years now, the project, earlier known as Lotus Villa, has not sold a single unit.
Oberoi Realty leaps on favourable court verdict
Jan 31, 2014
MUMBAI: Oberoi Realty surged over 6% to Rs 212.50 after the company announced yesterday that the Supreme Court dismissed a lower court judgement that had declared as private forest certain properties that a unit of the real estate developer wanted to develop.
India Infoline raises Rs 750-cr realty fund
Jan 31, 2014
MUMBAI: IIFL Wealth Management, a unit of financial services firm India Infoline, said on Wednesday it has raised a Rs 750-crore real estate fund, which has the option to co-invest another Rs 500 crore under the fund. IIFL has mandated Ajay Piramal group's realty fund manager Indiareit Fund Advisors as the investment advisor.
Tata Steel expects demand to grow 6-8% next fiscal
Jan 30, 2014
MUMBAI: Tata Steel expects steel demand to revive next fiscal and grow six to eight per cent with the new government driving investments in the infrastructure sector.
Zensar secures over Rs 180 cr orders in current month
Jan 30, 2014
MUMBAI: Zensar Technologies has won contracts worth more than Rs 180 crore in the first month of 2014.
Is it a good time for end users to buy their home?
Jan 30, 2014
PUNE: The real estate market is gradually maturing in India and therefore, it elegantly overcomes all the challenges. After the economic slowdown and a series of setbacks, the realty market has been bifurcated into two parts i.e. the realty market from the perspective of investors, and from the standpoint of end-users. Experts believe that the current realty market of Mumbai and Pune, are to remain subdued from the investors’ point of view but if you are an end-user, then this can be a good chan
Cumulative impact of increase in ready reckoner rates in Maharashtra
Jan 30, 2014
MUMBAI: The Maharashtra state government hiked the Ready Reckoner valuations of immovable properties in Mumbai, substantially for 2014, though property prices have not grown as much. How does this affect the common house purchaser or house seller?
IIFL raises Rs 735 cr for realty fund
Jan 30, 2014
MUMBAI: IIFL Wealth Management, the wealth management arm of India Infoline, has raised Rs 735 crore for a real estate fund.
Mumbai realty registrations recover in Dec after Nov slump
Jan 30, 2014
MUMBAI: After hitting a five-year low level in November, Mumbai's property sales registration numbers rebounded in December 2013, showing a renewed interest in the financial capital's property market from buyers.

Latest Realty News Of State

Realty Talk's