Indiabulls Real Estate eyes over Rs 30,000 cr sales revenue
Indiabulls Real Estate expects to garner a sales revenue of over Rs 30,000 crore from its 14 ongoing projects, being developed mainly in Delhi-NCR and Mumbai, the company said. In his message to shareholders in the annual report, Indiabulls Real Estate Chairman Sameer Gehlaut said the company has a well-diversified presence in both commercial and housing segments. "With the recovery in the real estate deals in the country, the company has been expanding its base in its key markets such as Mumbai Metropolitan Region (MMR), National Capital Region (NCR) etc. The company's ongoing projects have 28.5 million sq ft saleable area with a gross development value of around Rs 30,130 crore," he said. Gehlaut said the company has projects across the price spectrum, from mid-income, a premium to super luxury. According to the report, the company has a saleable area of 28.5 million sq ft in these 14 projects and execution of these projects will generate a net surplus of Rs 17,191 crore after meeting the pending construction costs.
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