Indiabulls Real Estate on October 31 reported a loss of Rs 18.2 crore for Q2FY24, compared to Rs 56.3 crore profit in the same period during 2022. In the quarter-ago period, the company reported a net loss of over Rs 679 crore.
Revenue from operations stood at Rs 963 crore in the Q2FY24 compared to Rs 1,940 crore in the same period last year. The company reported pre-sales of Rs 85 crore in Q2FY24 compared to Rs 297 crore in the same period last year.
Earnings before interest, taxes depreciation and ammortisation (EBITDA) loss stood at Rs 11 crore compared to Rs 100 crore profit in the same period last year. The company's net debt stood at Rs 433 crore up from Rs 136 crore in the same period last year.
Also read: Indiabulls Real Estate falls as quarterly net loss widens to Rs 679.5 crore
Indiabulls Real Estate in a regulatory filing said it has 2.4 million sqft in the upcoming launch pipeline spread across 13 acres, which also includes one project in joint venture (JV) out of the total four projects in the upcoming launch pipeline.
The company said it has total of 3,226 acres of land reserve near major metropolitans, the largest among all listed players. This includes 2,514 acres in West India, 534 acres in North India and 178 acres in South India.
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