In this article, we will discuss Indiabulls real estate, like Indiabulls real estate share price, Indiabulls real estate news, Indiabulls real estate share price target.
Indiabulls Real Estate is one of India’s largest real estate companies specializing in commercial and residential development, offering projects in all price ranges, from mid-rent to premium and ultra-luxury properties.
The company has provided more than 13.4 million square feet of development space to date. It also has a portfolio of 4.9 million square feet of leased office space and a joint venture portfolio of 4.1 million square feet of office space.
The company has a long-term debt rating of ‘AA’ and a short-term debt rating of ‘A1+’, the latter being the highest among Indian real estate developers. The company also owns 2,588 acres of SEZ land in Nashik, Maharashtra. The company is also engaged in real estate development in Central London and India.
INDIABULLS REAL ESTATE LTD – Company History
Indiabulls Real Estate Limited is one of India’s largest diversified real estate companies in the commercial and residential real estate development sector with projects ranging from premium to ultra-luxury middle-income properties across a wide price range. Geographically, Indiabulls Real Estate has a strategic focus on the key markets of Mumbai Metropolitan Region (MMR) and National Capital Region (NCR) of India.
Indiabulls Real Estate has a total development value of Rs. 30130 crore and net assets of Rs. 7090 crore with a total saleable area of 4.459 million sq. ft. and is one of the largest real estate companies with 17 ongoing projects under its umbrella. It also has an industrial estate under construction with a total leasable area of 3.15 million sq. ft. Besides, the company has a land bank of 1046 acres and also owns 2588 acres of SEZ land in Nashik, Maharashtra Indiabulls Real Estate Ltd was incorporated on April 4, 2006.
Indiabulls Real Estate Ltd. was incorporated on April 4, 2006, with the primary objective of providing real estate project consulting services, project marketing, maintenance of completed projects, engineering, industrial and technical consulting, construction, and development of real estate projects, and other related ancillary services.
The real estate business of Financial Services Ltd. was spun off and transferred to the Company effective May 1, 2006. During the financial year 2006-07, Indiabulls entered into a 50:50 joint venture with DLF Kenneth Builders & Developers (KBD). KBD acquired 35.8 hectares of land from the Delhi Development Authority through a competitive bidding process for Rs. 45,000 crores to build apartments.
The company has also received “approval in principle” from the Indian government to develop a multi-product special economic zone in Maharashtra. In 2007-08, the company expanded its operations into the real estate sector: Real Estate Development Project Consulting and Facility Management. In 2007-08, the company diversified into the following real estate sector businesses In 2007-08, the company diversified into the real estate sector with Department stores Hypermarkets Convenience stores Neighborhood stores In July 2007, the company raised $400 million through global warehouse bills.
During the year, we received formal approval from India’s Ministry of Commerce to develop a 3,000-hectare multi-product special economic zone in Nashik, Maharashtra, in the Delhi-Mumbai Industrial Corridor, which is being developed under the India-Japan Economic Partnership Agreement. We also received formal approval for two IT zones (25 acres each) in the Panvel area in the Mumbai metropolitan region.
At a meeting of the Board of Directors of Indiabulls Real Estate Limited held on May 18, 2018, the Board of Directors of the Company approved the repurchase of fully paid-up shares worth up to 26 billion rupees, representing approximately 5.45% of the paid-up share capital of the Company, at the current market price of the stock exchange at a price not exceeding 240 rupees per share.
The proposal was approved up to a total amount of 62.4 billion rupees. On July 6, 2018, the Board of Directors of Indiabulls Real Estate approved the signing of the definitive transaction documents with a company managed by Blackstone Group L.P., a world-renowned private equity investor in the real estate sector, pursuant to which the Company will acquire the non-core assets of the Company’s real estate business, the sale of a 100% interest in the commercial assets business of Ambattur Chennai, for an aggregate consideration of approximately Rs. 850 million, subject to adjustment based on certain assets and liabilities at closing (the Transaction).
The Transaction is pursuant to shareholder approval dated March 23, 2018, to facilitate the restructuring of the Company’s commercial leasing business in India to achieve sustainable growth and further strengthen its ongoing operations in core markets. During fiscal 2019, the Company’s Board of Directors approved the sale of 100% equity interest in its direct subsidiary Indiabulls Infrastructure Limited and approved a Composite Scheme of Arrangement between India Land and Properties Limited, a subsidiary holding the “Chennai Assets”.
The Scheme has been approved in accordance with the directions of the National Company Law Tribunal, Principal Division, New Delhi (NCLT) at the respective meetings of the shareholders and creditors of the Company held on June 20, 2019, and is under consideration for the grant of final approval by the NCLT. The Company, through its subsidiary Ashkit Properties Limited, has acquired a prime commercial land of 1,319 square meters (Plot No. 20 in Sector 18 Urban Estate in Gurugram) on National Highway No. 8 and intends to develop a commercial complex with a leasable area of over 5,000 square meters.
The company’s shareholder structure will not change after the plan is completed. In addition, Yashita Buildcon Limited, a wholly-owned subsidiary of the Company, has acquired 100% equity interest in Concept India Limited, which owns a prime commercial land on National Highway 8 (Plot 422B, Gurugram Urban Estate 18) and is in the process of developing the land into a commercial complex with a leasable area of approximately 2,500 square meters.
To expand our existing joint venture portfolio with Blackstone, we have entered into a definitive joint venture agreement with Blackstone to transfer a 50% interest in these two office buildings for a total consideration of approximately Rs. 46.4 billion.