Real Estate
Home›Real Estate›Industry›Indiabulls shares jump after Q1FY27 profit surge
Indiabulls shares jump after Q1FY27 profit surge
The company reported net profit of ₹142.9 crore for the June quarter, up from ₹0.4 crore a year earlier, and said its board approved a ₹1,000.1 crore equity issue to fund growth.
Indiabulls shares rose more than 3% on July 24 after the company posted a sharp turnaround in earnings for the June quarter, a move that came even as broader markets were under pressure, according to LiveMint Markets.
The company said net profit for Q1FY27 rose to ₹142.99 crore from ₹0.40 crore in the year-ago period. Revenue from operations also jumped 248.3% year over year to ₹318.47 crore from ₹91.44 crore.
Indiabulls added that its board approved a preferential equity issue worth ₹1,000.07 crore to finance its growth pipeline. Promoters have committed about ₹709 crore, roughly 71% of the proposed raise, with proceeds planned for land acquisitions, construction for the FY27 launch pipeline, and general corporate purposes.
The company also reported continued zero net debt. During the quarter, bookings were ₹3,003 crore, collections were ₹519 crore, and it sold 965 units across 22.75 lakh sq ft, while its broking business revenue rose 23% year over year to ₹35 crore and added 25,156 new clients.