Indiabulls Real Estate buys 140 acre land in Gurugram
Indiabulls Real Estate Tuesday said it will acquire 140 acre land at Manesar in Gurugram to develop an integrated township and commercial building. In a filing to the BSE, the Mumbai-based developer said that its wholly-owned subsidiary Loon Land Development Ltd has "entered into definitive agreement(s) to acquire a land parcel/development rights on approx140 acre land, situated at Sector 79, Manesar, Gurugram, for development of integrated township and commercial building". Indiabulls Real Estate recently reported a 23 per cent increase in its consolidated net profit at Rs 75.91 crore for the quarter ended September 30. Its net profit stood at Rs 61.64 crore in the year-ago period. Net sales jumped more than two-fold to Rs 1,040.41 crore for the second quarter of this fiscal from Rs 470.77 crore in the corresponding period of the previous year.
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