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.
Related News Articles
Property Registration Scandal: 796 Documents Under Scrutiny for Violating Real Estate Laws
The registration department is investigating 796 property registration documents for non-compliance with real estate regulations, sparking concerns among developers and buyers.
Maharashtra Weather Alert: Heavy Rainfall Expected in Mumbai, Pune, and Other Districts
IMD issues yellow alert for Mumbai, red alert for Palghar and Pune; heavy to very heavy rainfall expected in the next 24 hours
Nagpur Townships Inspected by State-Appointed Panel, Issues Persist
A state-appointed panel inspected several townships in Nagpur, Maharashtra, but issues related to water supply, irrigation clearance, and inspection delays remain unresolved.
Indore Sees 12.8% Rise in Property Revenue During Festive October
The city of Indore recorded a significant 12.8% increase in property revenue during the festive season in October. According to Balkrishna More, the Deputy Inspector General of Registration for the Indore region, the surge in real estate activity can be a
Arvind Gurumurthy: A Renowned Legal Expert in M&A, Private Equity, and Corporate Law
Arvind Gurumurthy, a distinguished legal professional, has made significant contributions in the fields of M&A, private equity, and corporate law. With a successful seven-year tenure as Partner at Kochhar & Company, Arvind has extensive experience in hand
Arthur Laffer Buys $87,156 in NexPoint Diversified Real Estate Trust Stock: A Bullish Signal?
Arthur Laffer, the director of NexPoint Diversified Real Estate Trust (NXDT), has made a significant purchase of $87,156 in company stock. This move could signal his confidence in the company's future performance. Investors should consider this as a potential indicator of a bullish market play.