This real estate company was up by 16.11% on 16 August!

This real estate company was up by 16.11% on 16 August!

Indian Market
by 5paisa Research Team Last Updated: 2022-08-16T18:30:12+05:30

The company is a part of the S&P BSE 500.

Indiabulls Real Estate Limited as an incorporated legal entity, came into existence on April 4, 2006, under the Companies Act, 1956, and obtained the certificate for commencement of business on May 24, 2006. It commenced operations encompassing the construction and development of real estate and providing consultancy and advisory services to companies engaged in construction-development of real estate and infrastructure projects.

Indiabulls Real Estate Limited is one of the largest real estate companies in India, with a well-diversified presence in both commercial and residential real estate development, and has projects across the price spectrum, from mid-income, premium to the super luxury space.

Q1 FY2023 Operational Updates:

The net debt stood at Rs 464 crore, down from Rs 1005 crore reported in Q4 FY2022. The estimated collection of Rs 600 crore from sold inventory (net of project costs) and Rs 500 crore from land sales in the next 12 months. The current debt to equity ratio is 0.18x. The Project Net Surplus is at Rs 8566 crore. More than 97% of inventory in key projects sold out (Blu, Sky forest, Thane Phase1, Engima & Centrum). Immediate upcoming launches (subsequent phases of Blu, Thane, Panvel Arivali and Sector 104 Gurugram). The pre-sales number stands at Rs 297 crore.

The merger with Embassy is in the final stages of NCLT review and the next hearing in Chandigarh is scheduled on 8th September 2022.

In Q1FY23, revenue decreased by 70.84% YoY to Rs 151.54 crore from Rs 519.71 crore in Q1FY22. On a sequential basis, the top-line was down by 40.09%. PBIDT (Ex OI) was reported at Rs -36.47 crore, down by 189.79% as compared to the year-ago period and the corresponding margin was reported at -24.07%, contracting by 3188 basis points YoY. PAT was reported at Rs -51.76 crore, down by 1163.73% from Rs 4.87 crore in the same quarter for the previous fiscal year.

The shares of the company rallied by 16.11% and the scrip ended at Rs 78.55.

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