Indiabulls Real Estate declined 5.41% to Rs 511.50 at
The stock hit a high of Rs 538 and a low of Rs 500 so far during the day. The stock had a 52-week high of Rs 847.80 on
The company’s current equity is Rs 48.17 crore. Face value per share is Rs 2.
The current price of Rs 511.50 discounts its Q3 December 2007 annualised EPS of Rs 68.35, by a PE multiple of 7.48.
Indiabulls Real Estate, which also owns Indiabulls group's retail and power businesses, is setting up large format bulk discount stores with an area of 1,50,000-2,00,000 square feet (sq ft) each, as part of its retail expansion under unit Indiabulls Wholesale Services.
Smaller grocery stores and medium-size lifestyle stores are being developed under unit Piramyd Retail which it took over from the Ashok Piramal group in December 2007. Indiabulls plans to expand the Piramyd chain to 100 stores by March 2009 from 42 now. It is also likely to open 12-15 large format stores in Tier II cities, over the next year reports added.
Indiabulls Real Estate reported a net profit of Rs 410.04 crore on sales of Rs 6.1 crore and other income of Rs 529.62 crore in Q3 December 2007.
The company is engaged in construction and development of real estate. It includes promotion, construction, development and sale of townships, residential and commercial property.
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