Indiabulls Real Estate’s arm divests entire stake in Chloris Real Estate

02 Aug 2022 Evaluate

Indiabulls Real Estate’s wholly owned subsidiary -- Nilgiri Infrastructure Development has divested its 100% stake in its subsidiary namely ‘Chloris Real Estate’, which owns small land parcel at Sector 99, Gurugram, Haryana and contributed zero percentage in consolidated turnover or revenue or income of the company during the financial year 2021-22, to a third party buyer for an aggregate consideration of Rs 16.85 crore. With this, Chloris Real Estate ceased to be subsidiary of the company.

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.

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