Indiabulls Real Estate Reports Net Loss of INR 18.23 Cr in Q2 FY24

01 Nov 2023 CW Team

During Q2 FY24, the company's total income stood at INR 50.84 crore, down from INR 57.14 crore in the same quarter of the previous fiscal year. The decline in income can be attributed to a slowdown in the real estate sector due to the ongoing COVID-19 pandemic.

Indiabulls Real Estate primarily operates in the residential and commercial real estate segments. The pandemic has significantly affected the demand for both residential and commercial properties, leading to a decrease in sales volume and revenue for the company.

The company's operating profit before depreciation was INR 15.85 crore during the quarter, compared to INR 16.31 crore in the corresponding quarter of FY23. The decrease in operating profit can be attributed to increased construction and labor costs, coupled with lower sales.

Despite the challenges, Indiabulls Real Estate continues to focus on project execution and delivery. The company has successfully completed and delivered several projects in the past, building a strong reputation for quality and timely delivery.

Looking ahead, Indiabulls Real Estate aims to enhance its sales and marketing strategies to drive customer demand. The company plans to leverage digital platforms and online marketing channels to reach a wider customer base and improve sales performance.

The real estate sector in India has been gradually recovering from the impact of the COVID-19 pandemic. As economic activities resume and vaccination rates increase, the demand for properties is expected to rise. Indiabulls Real Estate is optimistic about leveraging this potential market recovery to improve its financial performance in the upcoming quarters.

In conclusion, Indiabulls Real Estate has reported a net loss of INR 18.23 crore in Q2 FY24, primarily driven by the challenging market conditions caused by the COVID-19 pandemic. The company remains committed to project execution and delivery while focusing on enhancing sales and marketing strategies to adapt to the changing market dynamics.

Indiabulls Real Estate, a leading real estate development company, has reported a net loss of INR 18.23 crore for the second quarter of the financial year 2023-24 (Q2 FY24). The company faced challenging market conditions, resulting in a decline in its financial performance. During Q2 FY24, the company's total income stood at INR 50.84 crore, down from INR 57.14 crore in the same quarter of the previous fiscal year. The decline in income can be attributed to a slowdown in the real estate sector due to the ongoing COVID-19 pandemic. Indiabulls Real Estate primarily operates in the residential and commercial real estate segments. The pandemic has significantly affected the demand for both residential and commercial properties, leading to a decrease in sales volume and revenue for the company. The company's operating profit before depreciation was INR 15.85 crore during the quarter, compared to INR 16.31 crore in the corresponding quarter of FY23. The decrease in operating profit can be attributed to increased construction and labor costs, coupled with lower sales. Despite the challenges, Indiabulls Real Estate continues to focus on project execution and delivery. The company has successfully completed and delivered several projects in the past, building a strong reputation for quality and timely delivery. Looking ahead, Indiabulls Real Estate aims to enhance its sales and marketing strategies to drive customer demand. The company plans to leverage digital platforms and online marketing channels to reach a wider customer base and improve sales performance. The real estate sector in India has been gradually recovering from the impact of the COVID-19 pandemic. As economic activities resume and vaccination rates increase, the demand for properties is expected to rise. Indiabulls Real Estate is optimistic about leveraging this potential market recovery to improve its financial performance in the upcoming quarters. In conclusion, Indiabulls Real Estate has reported a net loss of INR 18.23 crore in Q2 FY24, primarily driven by the challenging market conditions caused by the COVID-19 pandemic. The company remains committed to project execution and delivery while focusing on enhancing sales and marketing strategies to adapt to the changing market dynamics.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Infrastructure Urban

13 Oct 2025

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Technology

13 Oct 2025

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..