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Indiabulls Real Estate Q3 FY18 net doubles to Rs 86.38 crore

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Press Trust of India Mumbai
Last Updated : Jan 23 2018 | 8:15 PM IST
Indiabulls Real Estate's consolidated net profit for the quarter ended Decmeber 31 nearly doubled to 85.38 crore, mainly on the back of a whopping increase in revenues.
The company had reported a net profit of Rs 43.64 crore in the corresponding quarter of the last fiscal.
Its revenues from operations during October-December grew nearly six fold to Rs 2100.12 crore from Rs 300.25 crore during Q3 FY17.
The company's expenses also increased from 429.53 crore in Q3 FY17 to Rs 2055.81 crore in October-December 2017.
During the quarter, the company, through its wholly-owned subsidiary, has entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of around 2.5 lac sq ft in Gurgaon.

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First Published: Jan 23 2018 | 8:15 PM IST

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