Equinox India Developments Limited: A New Chapter for Indiabulls Real Estate
Indiabulls Real Estate Limited has undergone a significant transformation, changing its name to Equinox India Developments Limited with effect from June 20.
Real EstateIndiabullsEquinox India DevelopmentsEmbassy Property DevelopmentsFama Real EstateReal EstateJun 25, 2024
The company will now submit requisite applications with the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE), in terms of SEBI LODR Regulations, for effecting change of name and trading in the shares of the company in its new name with its new symbol.
This name change comes on the heels of several significant developments for the company. In May, Indiabulls Real Estate and Fama Real Estate, a wholly-owned subsidiary, acquired Embassy Property Developments' residential development projects in Bengaluru and Chennai. Additionally, in April 2024, the company acquired 100% stake in Sky Forest Projects Pvt Ltd from Blackstone at an enterprise value of Rs 647 crore.
Despite posting a widening of consolidated net loss at Rs 1,038.65 crore for FY24, up from Rs 608.38 crore in 2022-23, and a decline in total income to Rs 468 crore in FY24, down from Rs 648 crore in FY23, the company appears to be moving forward with its strategic plans.
Information Indiabulls Real Estate Limited, now Equinox India Developments Limited, is a listed real estate developer with a diverse portfolio of projects across India.
Equinox India Developments Limited, formerly Indiabulls Real Estate Limited, is a leading real estate developer with a focus on delivering high-quality residential and commercial projects.
Frequently Asked Questions
What is the new name of Indiabulls Real Estate Limited?
The new name of Indiabulls Real Estate Limited is Equinox India Developments Limited.
When did Indiabulls Real Estate acquire Embassy Property Developments' residential projects?
Indiabulls Real Estate acquired Embassy Property Developments' residential projects in May.
What is the enterprise value of Sky Forest Projects Pvt Ltd acquired by Indiabulls Real Estate?
The enterprise value of Sky Forest Projects Pvt Ltd acquired by Indiabulls Real Estate is Rs 647 crore.
What was the consolidated net loss of Indiabulls Real Estate for FY24?
The consolidated net loss of Indiabulls Real Estate for FY24 was Rs 1,038.65 crore.
What is the focus of Equinox India Developments Limited?
The focus of Equinox India Developments Limited is on delivering high-quality residential and commercial projects.
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