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Indiabulls shares hit upper circuit before giving back gains on Gurugram update

The Gurugram project has a gross development value of around ₹3,700 crore, and phases 1 and 3 already have RERA registration, with a mid-October 2026 launch expected.

Reported · Written up by our desk · Industry

Indiabulls shares moved sharply on Tuesday, 25 August, rising to the upper price band before reversing course after the company provided an update on a RERA approved Gurugram project. The stock opened at ₹27, versus a prior close of ₹26.89, jumped about 5% to an upper circuit level of ₹28.23, and then erased gains, trading about 0.4% lower to ₹26.78 around 1:25 PM.

The update cited an understanding and agreement with a private landlord to undertake development management for a residential project on roughly 10.84 acres on the Dwarka Expressway in Gurugram. Indiabulls said phases 1 and 3 of the project have already received RERA registration, and it expects the project to be launched by mid October 2026.

The company estimated the project’s saleable area at 21 lakh sq. ft. and a gross development value of around ₹3,700 crore. It said the addition increases total gross development value across its projects to ₹27,308 crore.

Earlier in the month, Indiabulls also told exchanges it had provided updates on a public interest litigation against the company’s promoter, after the Supreme Court of India ordered a CBI probe into allegations involving Indiabulls Housing Finance (now Sammaan Capital) and associated entities. Over 2025 to date, Indiabulls shares were up 57% versus a 9% decline in the Sensex, while the stock has posted multibagger returns over longer periods, Mint said.

Latest closeSensex 78,079.96 ▲0.1%

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