Indiabulls Real Estate drops after reporting weak Q4 results

Indiabulls Real Estate shed 1.05% to Rs 56.75 at 14:35 IST on BSE after the company's consolidated net profit fell 36.74% to Rs 58.91 crore on 8.54% rise in total income to Rs 684.62 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during market hours today, 25 April 2016.

Meanwhile, the S&P BSE Sensex was down 204.28 points or 0.79% at 25,633.86.

On BSE, so far 8.52 lakh shares were traded in the counter as against average daily volume of 8.04 lakh shares in the past one quarter. The stock hit a high of Rs 58.25 and a low of Rs 54.95 so far during the day. The stock had hit a 52-week low of Rs 41 on 18 June 2015. The stock had hit a 52-week high of Rs 73.55 on 20 October 2015. The stock had outperformed the market over the past one month till 22 April 2016, rising 2.05% compared with 2% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 7.2% as against Sensex's 5.74% rise.

The mid-cap company has equity capital of Rs 101.06 crore. Face value per share is Rs 2.

Indiabulls Real Estate's earnings per share (EPS) dropped to Rs 1.23 in Q4 March 2016 from Rs 2.19 in Q4 March 2015. The company made new sales of Rs 626 crore in Q4 March 2016. The company is expecting a net surplus from the sales of its projects of Rs 19676 crore by 2019.

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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