Indiabulls Real Estate Ltd
BSE:532832

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Indiabulls Real Estate Ltd Logo
Indiabulls Real Estate Ltd
BSE:532832
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Price: 65.71 INR 4.98%
Market Cap: 41.8B INR

Indiabulls Real Estate Ltd
Investor Relations

Indiabulls Real Estate Ltd. engages in the provision of real estate development services. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2007-03-27. The firm's operations include real estate project advisory, investment advisory, project marketing, maintenance of completed projects, engineering, industrial and technical consultancy, construction and development of real estate properties and other related and ancillary activities. The company is focused on construction and development of residential, commercial and special economic zones (SEZ) projects. Its residential projects include Indiabulls Daffodils Tower, Indiabulls BLU Estate and Club, Indiabulls Sky, Indiabulls Sky Forest and Golf City. Its commercial projects include One Indiabulls Vadodara, ONE09 Gurgaon, One Indiabulls Park and Megamall. Its SEZ projects include Indiabulls Neo City. Its projects are spread across India in various locations, which include Mumbai, Delhi National Capital Region, Madhurai, Ahmedabad, Maharashtra and Vadodara.

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Last Earnings Call
Fiscal Period
Q4 2022
Call Date
May 27, 2022
AI Summary
Q4 2022

Merger Progress: The merger with Embassy Group has received key approvals and is expected to complete within weeks, with full integration targeted by July-August 2022.

Strong Bookings: Q4 bookings reached 0.5 million sq. ft. with presales of INR 326 crores, up 34% by area and 77% by value quarter-on-quarter.

Debt Reduction: A successful INR 865 crore fundraise through QIP has supported debt repayment and construction, with plans to halve merged entity debt (INR 6,500 crores) over 12–24 months.

Liquidity Boost: Receivables from London asset sale and Gurgaon land transaction, plus proceeds from project completions like Sky Forest, expected to further bolster cash flows.

Sales Outlook: Annual sales of INR 2,500–3,000 crores targeted post-merger, primarily from completed inventory—not including new project launches.

Commercial Strategy: Embassy brings 42.5 million sq. ft. of commercial assets, with a flexible approach to future development or asset conversion to residential for quicker cash flow.

Cost and Margin Highlights: Q4 margins decreased to 21% (from 32% YoY), but finance costs declined and liquidity remains strong; cost escalation risks appear contained.

Key Financials
New bookings
0.5 million sq. ft.
Presales (Q4)
INR 326 crores
Presales (FY22)
INR 1,383 crores
Collections (Q4)
INR 333 crores
Collections (FY22)
INR 1,281 crores
Construction spend (Q4)
INR 134 crores
Construction spend (FY22)
INR 435 crores
Delivered area (FY22)
1 million sq. ft.
Net surplus (OC/near-completed + ongoing projects)
INR 7,161 crores
Estimated inventory value
INR 9,287 crores
Pending costs
INR 4,946 crores
Overall estimated net surplus (including planned projects)
INR 8,708 crores
Sold receivables
INR 2,822 crores
Sky Forest net surplus unlocked
INR 1,033 crores
Sky Forest unsold inventory
INR 437 crores
QIP fundraise
INR 865 crores
Land sale proceeds (Sector 106, Gurgaon)
Total INR 580 crores (INR 80 crores advance received)
Consolidated revenue (Q4 FY22)
INR 273 crores
Adjusted EBITDA (Q4 FY22)
INR 58 crores
Margin (Q4 FY22)
21%
Interest and finance charges (Q4 FY22)
INR 24 crores
Consolidated revenue (FY22)
INR 1,541 crores
Adjusted EBITDA (FY22)
INR 276 crores
Interest and finance charges (FY22)
INR 110 crores
Gross debt
INR 1,310 crores
Net debt
INR 1,500 crores
Liquidity
in excess of INR 305 crores
Average cost of borrowing
10.7%
Debt equity ratio
0.4x
Other Earnings Calls
2022

Management

Mr. Sachin Chittaranjan Shah
President & Additional Executive Director
No Bio Available
Mr. Manish Kumar Sinha
Chief Financial Officer
No Bio Available
Mr. Atul Chandra
Senior VP & COO
No Bio Available
Mr. Vinayak Vishwanath
Vice President
No Bio Available
Mr. Niraj Tyagi
General Manager of Legal
No Bio Available
Mr. Chandra Shekher Joshi
Company Secretary & Compliance Officer
No Bio Available
Mr. Rajiv Malhan
Senior Vice President of Sales & Marketing
No Bio Available
Mr. Venkataraman Sundar
Senior Vice President of Finance
No Bio Available
O. P. Agrawal
President of Commercial
No Bio Available

Contacts

Address
MAHARASHTRA
Mumbai
WeWork Vaswani Chambers, 3rd Floor, 264-265,, Dr Annie Besant Rd, Municipal Colony, Worli Shivaji Nagar,, Worli
Contacts