The realty major posted a consolidated net profit of Rs 94.42 crore in Q4 March 2021 as against net loss of Rs 109.79 crore in Q4 March 2020.
Net sales for Q4 March 2021 zoomed 529% year-on-year to Rs 731.73 crore. The real estate company registered pre-tax profit of Rs 136.31 crore in Q4 March 2021 compared with pre-tax loss of Rs 144.11 crore in Q4 March 2020.Indiabulls Real Estate said that its new sales jumped 66% to Rs 629 crore while gross collections improved 43.6% to Rs 866 crore in Q4 March 2021 over Q4 March 2020.
Total net surplus from completed inventory and projects that are currently ongoing stood at Rs 10,754 crore. Total sold receivables and completed/near completed inventory in hand is Rs 3,901 crore. Area of completed inventory is 5.9 million square feet and area under development of ongoing projects is 25.1 million square feet.
On a consolidated basis, the company's net profit tumbled 96.44% to Rs 4.30 crore on 53.48% decline in net sales to Rs 1521.41 crore in the year ended March 2021 over the year ended March 2020.
Indiabulls Real Estate is engaged in the development of real estate projects and allied activities.
Shares of Indiabulls Real Estate fell 0.25% at Rs 79.45 on Friday.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app