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

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.
Pharma, realty stocks in demand
Jan 30, 2014
MUMBAI: Realty stocks rose after Reserve Bank of India (RBI) Governor Dr. Raghuram Rajan on Tuesday, 28 January 2014, said after the central bank's surprise hike in its key lending rates after a monetary policy review that once inflation comes down to comfortable levels, the RBI would have some room to cut rates. Purchases of both residential and commercial property are largely driven by finance.
Banks find safe haven in home loans as NPAs rise
Jan 30, 2014
MUMBAI: As loans in infrastructure and small businesses turn bad and corporates fight shy of making fresh investments, banks are finding home loans a safe haven. As a result, home loans are among the fastest growing segments at 13.5% in the first nine months of the fiscal. This is good news for borrowers as banks are offering a better deal to home loan customers than to top corporates.
Bad debt: Hiranandani project auction on March 3
Jan 30, 2014
MUMBAI: Housing Development Finance Corporation Ltd (HDFC) on Wednesday invited bids to auction 158 acres of Hiranandani Gardens near Chennai after the developer failed to repay a Rs 539 crore loan.
RBI seeks to control inflation: India Inc
Jan 29, 2014
MUMBAI: The Reserve Bank of India's move to increase repo rate by 0.25 basis points is aimed to control rising prices rather than encouraging economic growth, say CEOs.

Latest Realty News Of State

Realty Talk's