Indiabulls Real Estate Q1 Results Net Loss To Rs 679 5 Crore 29 2 Yoy Rise In Revenue At Rs 195 8 Crore

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

Indiabulls Real Estate Q1 Results: Net loss to Rs 679.5 crore, 29.2% YoY rise in revenue at Rs 195.8 crore

ri-calendar-2-lineAug 11, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

Indiabulls Real Estate reported a loss of Rs 679.5 crore in the June quarter. Due to an exceptional item of Rs 629 crore, the loss appeared to have increased from Rs 52 crore reported in the previous quarter.

According to the company in an investor presentation, this sum was added to the quarterly financials to represent the amount due from Clivedale Overseas Limited, a UK-based corporation controlled by the former promoters of Indiabulls Real Estate. 

Since December 2021, the company has reported successive losses with the exception of Q2FY23.

Indiabulls Real Estate reported a 29.2% YoY increase in revenue to Rs 195.8 crore in Q1FY24.

The company stated in a separate filing that the state-owned industrial promotion agency MIDC issued a notice seeking the termination of the lease deed for 2,500 acres of property it had provided in Sinnar (Nashik).

The failure to compensate project-affected individuals (PAP) within the specified timeframe resulted in the issuance of the termination notice. The company stated that the agency's action was unlawful since it had paid a plot fee toward the PAPs.

The company also said that it has appealed the National Company Law Appellate Tribunal (NCLAT) after the National Company Law Tribunal's (NCLT) Chandigarh bench's order to withhold its merger with Embassy Group, its new parent company, in May.

Samir Gehlaut, the company's former promoter, left the company in 2021 and sold his stake to the Embassy group of Bengaluru.

In India, Indiabulls Real Estate constructs and develops properties for residential use, commercial use, and special economic zones. The company will continue to concentrate on the Mumbai, Bengaluru, and Delhi NCR areas after being acquired by the Embassy group in 2021.

Source: Media Reports

Related News

News Thumbnail
Quarterly Result

BLS's Q2FY24 Financial Performance Review

2 mins read. November 6, 2023 at 08:56 AM

News Thumbnail
Quarterly Result

Interglobe Aviation's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 11:31 AM

News Thumbnail
Quarterly Result

Titan's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 10:59 AM

News Thumbnail
Quarterly Result

Zomato's Q2FY24 Financial Performance Review

3 mins read. November 3, 2023 at 09:50 AM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions