Indiabulls Real Estate's Losses Escalate to Rs 1,038 Crore in FY24

Indiabulls Real Estate (IBREL) reported a wider consolidated net loss of ₹1,038.65 crore in FY24 due to a fall in total income. IBREL's net loss in Q4 FY24 narrowed to ₹302 crore. The Mumbai-based real estate developer's total income fell in FY24 and Q4 FY24. Despite the losses, IBREL remains one of the leading real estate developers in India.

PTI | New Delhi | Updated: 27-04-2024 14:26 IST | Created: 27-04-2024 14:25 IST

Indiabulls Real Estate Ltd (IBREL) has posted widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year.

Its net loss stood at Rs 608.38 crore in 2022-23.

Total income also fell to Rs 468.75 crore during 2023-24 from Rs 648.47 crore in the preceding year, according to a regulatory filing on Friday.

IBREL's ness loss in March quarter FY24 narrowed to Rs 302 crore from Rs 375.99 crore in the year-ago period.

Total income fell to Rs 39.54 crore in the quarter from Rs 132.91 crore in the year-ago period.

Mumbai-based IBREL is one of the leading real estate developers in the country.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)