Quote on Indiabulls Real Estate Limited by Mr. Yash Gupta, Angel One Ltd
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Below is quote on Indiabulls Real Estate Limited by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Indiabulls Real Estate Limited has reported results better than market expectations for Q2FY22.
Indiabulls Real Estate reported revenue from operation at ₹349.7 crores as compared to ₹20.14 crores in Q2FY21, in Q2FY21 several of the companies’ operations are stuck due to covid 19 lockdown. The company reported a profit of ₹5.64 crores for Q2FY22 as compared to the loss of ₹76 crores in Q2FY21.
The company has reported a very strong first half of 2022 and we expect the same momentum to continue for the upcoming quarter also. Companies net sales up by 137% at ₹874 crores for H1FY22 as compared to ₹368 crores for H1FY21 along with this gross collections are also improved from ₹284 crores to ₹654 crores in H1FY22. Companies' overall debt has come down to ₹967 crores as of 30th September 2021.
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