Indiabulls Real Estate Q2 PAT turns around to Rs5.54cr as demand for housing gradually returns

Indiabulls Real Estate Ltd reported 651% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs381.25cr

Oct 14, 2021 08:10 IST India Infoline News Service

Indiabulls Real Estate Ltd reported 651% growth in total revenues for the Sep-21 quarter on consolidated basis at Rs381.25cr, which may be misleading due to the weak base effect.

The revenues were sharply lower by -28.34% on a sequential basis compared to Rs532.03cr revenues in the Jun-21 quarter and this was largely on account of the lag effect of COVID 2.0.

Like most of the other real estate companies, Indiabulls Real Estate is also seeing a revival in housing demand and the numbers are likely to be reflective in coming quarters.

The consolidated Profit after tax (PAT) for the Sep-21 quarter turned around to a net profit of Rs5.54cr. The turnaround was largely on account of the weak performance in the Sep-20 quarter at the peak of the COVID pandemic.

That was when the revenues had fallen sharply leading to under absorption of fixed costs. Net margins at 1.45% were better than 0.89% margins in the sequential quarter.


Financial highlights for Sep-21 compared yoy and sequentially


Indiabulls Real Estate
Rs in Crore Sep-21 Sep-20 YOY Jun-21 QOQ
Total Income (Rs cr) ₹ 381.25 ₹ 50.70 651.97% ₹ 532.03 -28.34%
Net Profit (Rs cr) ₹ 5.54 ₹ -76.14 N.A. ₹ 4.76 16.39%
Diluted EPS (Rs) ₹ 0.12 ₹ -1.67 ₹ 0.10
Net Margins 1.45% -150.18% 0.89%

Related Story

Open Free Demat Account (Rs699)