Indiabulls Limited Reports Impressive Q2 FY26 Results Post Merger
Indiabulls Limited, formed after the merger of Yaari Digital Integrated Services, Dhani Services Limited, and Indiabulls Enterprises, has reported strong Q2 FY26 results. The company is now debt-free with robust performance in real estate and financial services sectors.
Indiabulls LimitedQ2 Fy26 ResultsMergerReal EstateFinancial ServicesReal Estate MumbaiOct 31, 2025
The key financial highlights for Q2 FY26 include:
- Revenue: ₹256.60 crore
- EBITDA: ₹127.50 crore
- PAT: ₹75.30 crore
The merger, effective from October 14, 2025, has resulted in a debt-free entity with no outstanding loans or Non-Convertible Debentures (NCDs). Promoters have increased their stake to 32.8% by converting warrants worth ₹406 crore at ₹90.30 per share during Q2 FY26.
Indiabulls Limited operates in two main business verticals: real estate and financial services. The real estate segment has ongoing projects in Gurugram and Mumbai, with a strong pipeline of future developments. The company has achieved sales of over ₹2,000 crore till September 30, 2025, and expects total sales to reach ₹3,400 crore in the current financial year.
The financial services segment includes various offerings:
- A 16.4% stake in SpringCash LLC, a US-based AI-powered SMB lending platform
- Stock broking business with 1.75 lakh active demat accounts holding over ₹65,000 crore in assets
- Upcoming UPI services launching in Q3 FY26
- Dhani wallet with 3.5 million wallets
- Asset Reconstruction Company (ARC) business managing loan recovery portfolios worth approximately ₹3,000 crore
Following the merger, Indiabulls Limited has undergone significant management changes:
- Mr. Gurbans Singh has been appointed as Executive Chairman
- Mr. Divyesh B. Shah has been appointed as Chief Executive Officer
- New independent directors have been added to the board
The merger has positioned Indiabulls Limited as a diversified entity with strong footholds in real estate and financial services. The company's debt-free status and robust project pipeline in real estate, coupled with its expanding financial services offerings, suggest a positive outlook for future growth.
Frequently Asked Questions
What are the key financial highlights of Indiabulls Limited's Q2 FY26 results?
The key financial highlights of Indiabulls Limited's Q2 FY26 results include revenue of ₹256.60 crore, EBITDA of ₹127.50 crore, and PAT of ₹75.30 crore.
What is the impact of the merger on Indiabulls Limited's financial status?
The merger has resulted in a debt-free entity with no outstanding loans or Non-Convertible Debentures (NCDs). Promoters have increased their stake to 32.8% by converting warrants worth ₹406 crore at ₹90.30 per share during Q2 FY26.
What are the main business verticals of Indiabulls Limited?
Indiabulls Limited operates in two main business verticals: real estate and financial services.
What are some of the ongoing and future projects in the real estate segment?
The company has ongoing projects in Gurugram and Mumbai, including Indiabulls Estate & Club (Phase 1) and Indiabulls Heights. Future projects are in various stages of development across these locations.
What are the key offerings in the financial services segment?
The financial services segment includes a 16.4% stake in SpringCash LLC, stock broking business, upcoming UPI services, Dhani wallet, and an Asset Reconstruction Company (ARC) business.
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