Indiabulls Real Estate along with certain subsidiaries have entered into definitive agreement(s) with entities controlled by The Blackstone Group to divest the entire stake in Mariana Infrastructure (which owns commercial project at Gurugram) and the commercial assets/development at Mumbai, at an aggregate enterprise value of about Rs 810.7 crore. The company has been selling its completed as well as ongoing commercial assets to Blackstone to reduce its debt.
Indiabulls Real Estate is India's third largest real estate company, with its focus on construction and development of residential, commercial and SEZ projects across major Indian metros.
