Indiabulls Real Estate to consider buy-back of equity shares

Indiabulls Real Estate Ltd today said its board will meet later this month to consider a proposal to buy-back of equity shares of the company.
"A meeting of the board of directors of the company will be held on November 24, 2016, inter alia, to consider the proposal of buy-back of equity shares of the company," Indiabulls Real Estate said in a BSE filing.
The company, however, did not elaborate on the size proposed buy-back.
Last month, Indiabulls Real Estate reported two-fold increase in consolidated net profit at Rs 141.6 crore for the quarter ended September. Its income from operations fell to Rs 710.60 crore in the second quarter of the current financial year from Rs 722.48 crore in the year-ago period.

Shares of Indiabulls Real Estate were trading 3.02 per cent higher at Rs 69.90 apiece on BSE during the morning trade.