NEW DELHI (INDIA): Indiabulls Real Estate reported 14 per cent decline in its consolidated net profit at Rs 58.58 crore for the quarter ended December on lower sales.
Its net profit stood at Rs 67.88 crore in the year-ago period, the company said in a filing to the BSE.
Income from operations fell to Rs 300.25 crore in the third quarter of this fiscal from Rs 711.51 crore in the corresponding period of the previous year.
Total income decreased to Rs 492.9 crore in the October-December quarter from Rs 735.75 crore earlier.
Indiabulls Real Estate is developing 11 projects with a total saleable area of 30.51 million sq ft. It has presence in key metros of Mumbai, NCR and Chennai.
It entered London property market in July 2014 through acquisition of 22, Hanover Square in Mayfair, central London – a 87,444 sq ft commercial property.
Source: Press Trust of India