Indiabulls Real Estate posts Rs 119.36 cr Q1 loss; to sell commercial assets for up to Rs 4,800 cr Despite higher income, the company posted a net loss as it had to pay an additional tax amount of Rs 98 crore along with interest thereon of Rs 67.50 crore, based on the order of the Settlement Commission.
Indiabulls Real Estate (-3.9%) plans to sell its entire stake in Mariana Infrastructure and commercial assets in Mumbai to Blackstone group for Rs 810 crore. The sale is expected to complete by the end of the year.
Indiabulls Real Estate sells London property to promoters for 200 mn pounds Indiabulls Real Estate said the "company's wholly owned subsidiary has divested its entire stake in Century Ltd, which indirectly owns Hanover Square property, London to Clivedale Overseas". In June, Indiabulls Real Estate promoters had sold 14% stake in the company through open market transactions to Embassy Group for Rs 950 crore.
The Economic Times
Indiabulls Real Estate sells London property for 200 mn pounds