Indiabulls Real Estate cuts net debt by 54% in June quarter

16 Aug 2022 Evaluate

Indiabulls Real Estate (IBREL) has reduced its net debt by 54 per cent to Rs 464 crore at the end of June quarter as compared to Rs 1,005 crore in March quarter. Its gross debt fell to Rs 739 crore from Rs 1,310 crore. Besides, the merger with the Embassy Group is in the final stage of National Company Law Tribunal (NCLT) review.

In April, IBREL had raised Rs 865 crore by issuing shares to institutional investors mainly for land acquisition and debt reduction. On the operational front, the company's sales bookings fell to Rs 297 crore in the first quarter of this fiscal year, from Rs 350 crore in the corresponding period of the previous year.

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.

Indiabulls Real Est. Share Price

115.95 1.40 (1.22%)
28-Mar-2024 16:01 View Price Chart
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