Indiabulls Real Estate Q4 net profit down 20 per cent at Rs 41.67 crore

Indiabulls Real Estate posted a net profit of Rs 51.94 crore in the year-ago period.

By: Press Trust of India | New Delhi | Published: April 23, 2014 10:09:29 pm

Indiabulls Real Estate today reported 20 per cent fall in consolidated net profit at Rs 41.67 crore for the quarter ended March 31 on lower sales.

The company had posted a net profit of Rs 51.94 crore in the year-ago period.

Total income from operations fell by over 20 per cent at Rs 327.60 crore in the fourth quarter of last fiscal from Rs 412.29 crore in the corresponding period of previous year, Indiabulls Real Estate said in a filing to the BSE.

However, the company reported 28 per cent increase in its consolidated net profit to Rs 223.84 crore in the full 2013-14 fiscal from Rs 174.19 crore in the previous year.

Total income from operations rose by 33 per cent to Rs 1,736.24 crore in last fiscal from Rs 1,300.55 crore in the 2012-13 fiscal.

The Board of Directors at its meeting held today declared the third interim dividend of Re 1 per equity share for the financial year 2013-14. The company announced a total dividend of Rs 3 for 2013-14 i.e. 150 per cent on face value of Rs 2 per share.

Indiabulls Real Estate has a total land bank of over 1,000 acres in Mumbai, NCR and Chennai.

The total saleable area under construction stood at 24.78 million sq ft as on March 31, 2014.

Share price of the company rose by 2.11 per cent at Rs 62.85 apiece on BSE. The company’s market cap is Rs 2,664 crore.

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