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Indiabulls Real Estate jumps on the buzz of easing property prices

29 Apr 2013 Evaluate

Indiabulls Real Estate is currently trading at Rs. 75.20, up by 4.75 points or 6.74% from its previous closing of Rs. 70.45 on the BSE.

The scrip opened at Rs. 71.00 and has touched a high and low of Rs. 76.20 and Rs. 70.60 respectively. So far 1915196 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 82.35 on 04-Feb-2013 and a 52 week low of Rs. 41.75 on 04-Sep-2012.

Last one week high and low of the scrip stood at Rs. 73.20 and Rs. 60.30 respectively. The current market cap of the company is Rs. 2987.33 crore.

The promoters holding in the company stood at 44.38% while Institutions and Non-Institutions held 32.22% and 23.24% respectively.

Indiabulls Real Estate, leading developer has reportedly started the exercise of easing in property prices with around 10-15% lower price tags. In order to attract buyers in a slow market, company is offerings at around Rs 25,000 per square feet, against earlier prices of Rs 28,000-30,000 per square feet. The entity is also offering 20:80 financing scheme, where the customer can pay 20% at the time of booking and the rest at the time of possession.

The company has registered 51% jump in its sales bookings to Rs 3,002 crore during the last fiscal as against Rs 1,982 crore for the year FY12, while the annual rental income grew by 37% to Rs 486 crore in FY-13 versus Rs 354 crore in FY-12.

 

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