Indiabulls Real Estate Q1 PAT up by 145% at Rs 70.22 crore

MUMBAI, India - July 24, 2013 - PRLog -- PRESS RELEASE
For Immediate Use

Indiabulls Real Estate Q1 PAT up by 145% at Rs 70.22 crore

·      Announces interim dividend of 50% on face value of Rs. 2 per share

HIGHLIGHTS of Q1 FY14

·          Total Revenue during Q1 FY14 up 137% to Rs. 508.33 crore from Rs. 214.67 crore in Q1 FY13

·      Profit After Tax for Q1 FY14 up 145% to Rs. 70.22 crore from Rs. 28.67 crore in Q1 FY13

·      Earnings Per Share stands at Rs. 1.66

·      Total Sales of Rs. 1,592 crores for an area of 1.56 msft in Q1 FY-14

Mumbai, July 24, 2013: Indiabulls Real Estate Limited (IBREL) today announced its results for the first quarter ended June 30, 2013.

The Consolidated Total Revenue for the quarter stood at Rs. 508.33 crore in comparison to Rs. 214.67 crore for the same period last year, registering a growth of 137%. Profit before Tax (PBT) for Q1 FY-14 stood at Rs. 108.68 crore, up by 192% from Rs. 37.17 crore for the comparative period last. The company reported a Profit after Tax (PAT) for Q1 FY-14 at Rs. 70.22crores, up by 145% from Rs. 28.67 crores for the comparative period last year.

The company declared Interim Dividend of 50% on face value of Rs. 2 per share for Q1 FY 2013-14

The company recorded totalSales of Rs. 1,592 crore for Q1 FY-14. Total saleable area under construction as on 30^th June 2013 recorded at 24.78 Million Sq. Ft. Area Under Development in Greater Mumbai and MMR region 39.99 msft, NCR 20.02 msft, Chennai 8.67 msft.

The company received approval for the its major projects include Indiabulls Greens Panvel, Golf City Savrolli, Indiabulls Blu Worli, One Indiabulls Worli, Centrum Park, Enigma, Chennai Greens, Sky and Sky Forest. The company retains its A+ rating for long term debt and A1+ (highest possible) for short term debt.

The company’s land acquisition and development efforts are focused on three key centers, namely Greater Mumbai and MMR region, NCR region and Chennai, respectively.

Net debt decreased by Rs. 130 Cr to Rs. 1,065 Cr in Q1 FY-14.

Results at a Glance

Key Financial Highlights: Q1 FY 2013-14

 Q1 FY 13-14

 Q1 FY 12-13

Growth (%)

Total Revenues (Rs. Cr.)

508.33

214.67

137%

PBT (Rs. Cr.)

108.68

37.17

192%

PAT (Rs. Cr.)

70.22

28.67

145%

EPS (Rs.)

1.66

0.76

*****

For Further details Contact

Nasreen Shaikh,
Manager, Corporate Communications & PR – Indiabulls Group,
Indiabulls House, Indiabulls Finance Centre,
15th floor, Elphinstone Road, Mumbai: 400 013
Tel : 022 - 61891530 / 9004327491
Mail: nasreen.s@indiabulls.com; mediaquery@indiabulls.com;

Anilkumar Yadav
+91-9769808828 / 022-40558917
anil@conceptpr.com

Edriech De Souza
+91-9819665275 / 022-40558918
edriech@conceptpr.com