Indian Real Estate Stocks Take a Hit: Indiabulls Real Estate Plunges 5%
Indian stock market updates, BSE Realty index down 0.4%, Indiabulls Real Estate share price falls 5%
Indiabulls Real EstateBse Realty IndexIndian Real Estate SectorStock Market UpdatesBse SensexNse NiftyReal Estate NewsSep 19, 2024
Other top losers in the BSE Realty index include Brigade Enterprises, which has fallen 2.4%, and DLF, which has declined 2.3%. On the other hand, Phoenix Mill and Prestige Estates have gained 1.3% and 1.0%, respectively.
In the past year, Indiabulls Real Estate has witnessed a significant gain of 54.9%, rising from Rs 76.8 to Rs 119.0. The BSE Realty index has also surged 78.6% during the same period.The top gainers in the BSE Realty index over the past year include Prestige Estates, which has gained 208.6%, Sobha, which has risen 185.6%, and Brigade Enterprises, which has increased 118.1%.The benchmark indices have also witnessed a mixed trend, with the BSE Sensex rising 0.2% to 83,138.3 and the NSE Nifty gaining 0.1% to 25,407.2.
In terms of financial performance, Indiabulls Real Estate reported a net profit of Rs -282 million for the quarter ended June 2024, representing a 95.8% year-over-year growth. Net sales rose 97.7% to Rs 3,872 million during the same period.For the year ended March 2024, the company reported a 70.9% decrease in net profit to Rs -10,384 million, compared to a net loss of Rs 6,076 million in FY23. Revenue fell 29.5% to Rs 4,138 million during FY24.
The current price-to-earnings ratio of Indiabulls Real Estate stands at -19.6, based on rolling 12-month earnings.
About Indiabulls Real Estate Indiabulls Real Estate is a leading real estate development company in India, with a focus on residential and commercial projects.
About BSE Realty Index The BSE Realty Index is a benchmark index that tracks the performance of real estate stocks listed on the Bombay Stock Exchange.
About BSE Sensex The BSE Sensex is a benchmark index that tracks the performance of the top 30 stocks listed on the Bombay Stock Exchange.
About NSE Nifty The NSE Nifty is a benchmark index that tracks the performance of the top 50 stocks listed on the National Stock Exchange.
Frequently Asked Questions
What is the current share price of Indiabulls Real Estate?
The current share price of Indiabulls Real Estate is Rs 119.0.
What is the BSE Realty Index?
The BSE Realty Index is a benchmark index that tracks the performance of real estate stocks listed on the Bombay Stock Exchange.
What is the current price-to-earnings ratio of Indiabulls Real Estate?
The current price-to-earnings ratio of Indiabulls Real Estate is -19.6, based on rolling 12-month earnings.
What is the reason behind the decline in the Indian real estate sector?
The Indian real estate sector has witnessed a decline in recent months due to various factors, including a slowdown in demand and increasing competition.
What are the top gainers in the BSE Realty Index over the past year?
The top gainers in the BSE Realty Index over the past year include Prestige Estates, Sobha, and Brigade Enterprises.
Tags:
Related News Articles
Info Edge Sees 75% Surge in Q1 Profit, Driven by Naukri and 99acres Growth
Info Edge's Q1 profit jumps 75.6% to Rs 258.8 crore, driven by strong growth in recruitment and real estate businesses.
900% Hike in Draft Jantri Rates Rattles Real Estate Sector in Ahmedabad
The recent draft jantri rates in Gujarat have sent shockwaves through the real estate industry, with hikes as steep as 900%. Developers in Ahmedabad are voicing their concerns over the potential impact on the housing market and the construction sector.
If Your Great-Grandparents Invested Rs 1,000 in Mumbai Land...
Financial expert Rishabh Zaveri recently shared an eye-opening case study, exploring the incredible transformation of Mumbai's real estate market over the past century, turning modest investments into generational wealth.
India's First 3D-Printed Villa Opens in Pune: A Leap in Sustainable Construction
This groundbreaking achievement in real estate demonstrates the potential of 3D printing in revolutionizing home construction, offering unmatched speed, efficiency, and sustainability. The villa, built in just a few months, is a testament to the future of
Supreme Court Denies Status Quo on Dharavi Redevelopment Project
The Supreme Court has rejected the request to maintain the status quo on the Dharavi redevelopment project, which has seen the Adani Group emerge as the highest bidder. The 259-hectare project in the heart of Mumbai aims to transform one of the world's la
Mumbai's Luxury Real Estate Market Soars: Record-Breaking Sale at Worli
Mumbai's luxury real estate market is booming, with a record-breaking sale of a Lodha Sea Face apartment for ₹187.5 crore. Worli has emerged as a prime hot spot, recording 683 registrations and a significant transaction value.