Track2Realty: Indiabulls Real Estate Limited (IBREL) today announced robust growth in sales and earnings for the quarter ended December 31, 2012. The company registered total sales of Rs 1,201 crore, up by 267% from Rs 449 crore achieved in Q3 FY12.
Total Income stood at Rs 351.3 crore in Q3 FY’13 compared to Rs 377.3 crore in quarter ended on December 31, 2012 while the Profit After Tax (PAT) stood at Rs. 52.2 crore, up by 24.88% from Rs 41.8 crore in the same period last year.
The Basic Earnings Per Share (EPS) is stood at Rs 1.17, up 23.16% compared to Rs 0.95 for the quarter ended December 31, 2012.
As on December 31, 2012, IBREL sold 1.125 crore sq ft of space at the value of Rs 7,785 crore. Out of this, cash inflows of Rs 4,735 crore are expected from prior sales linked to the construction of the projects.
The company received all approvals for its Mumbai flagship project – Blu at Worli and the construction is in full swing on site. In addition to this, the company has revenue pipeline of Rs 12,808 crore from various projects currently under execution.
The company has strong cash flows due to on ground progress leading to reduction in debt and buyback of shares. Total Saleable Area under Construction is around 1.94 crore sq. ft.
New leased area in Q3 FY-13 is 1.03 lakh sq. ft. Total leased areas as on December 31, ‘12 stands at 24.3 lakh sq ft with rentals of Rs. 474 crore per annum.
