close

Indiabulls Real Estate records turnaround Q4 results

Image

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.

Also Read

Real Estate stocks edge lower

Real Estate shares fall

Real Estate stocks edge lower

Real Estate stocks rise

Real Estate shares soar

HCL Tech Q4 PAT declines 26% QoQ

Nazara Tech jumps after strong business update

Astra Microwave Products Ltd leads losers in 'A' group

Cadila Health gains after DGCI approves Virafin for moderate COVID-19 cases

Jagsonpal Pharmaceuticals Ltd leads losers in 'B' group

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 24 2021 | 9:11 AM IST

Explore News