Indiabulls Real Estate

Indiabulls Real Estate Steps as Board to Contemplate Restructuring

Indiabulls Real Estate rose 2.91% to Rs 219.20 at 09:45 IST on BSE after the company scheduled a board meeting on 14 February 2018 to consider reorganization/ restructuring of business.

The announcement was made after market hours yesterday, 8 February 2018. Meanwhile, the S&P BSE Sensex was down 462.94 points or 1.35% at 33,950.22.
On the BSE, 5.41 lakh shares were traded on the counter so far as against the average daily volumes of 11.60 lakh shares in the past one quarter. The stock had hit a high of Rs 221 and a low of Rs 204.85 so far during the day.

The stock had hit a 52-week high of Rs 269.50 on 7 August 2017 and a 52-week low of Rs 75.10 on 15 February 2017. The large-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2. Indiabulls Real Estate had on 17 April 2017 informed regarding reorganization/ restructuring of the existing residential and commercial office leasing businesses of the company.

Indiabulls Real Estate’s consolidated net profit jumped 96.12% to Rs 85.39 crore on 339.12% surge in total income to Rs 2164.44 crore in Q3 December 2017 over Q3 December 2016.

Indiabulls Real Estate is believed to be a real estate development organization that works on few development projects that spread across office and commercial complexes, mega townships, retail spaces, hotel and resorts, and infrastructure development.

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