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.





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