Indiabulls Real Estate is the top gainer on the BSE currently; in fact the group has been ruling this rooster for couple of days now.
The company announced a fantastic set of numbers for Q4FY18 yesterday and the effect continues onto today too. It reported a whopping 21 times jump in consolidated net profit at Rs.1648 crore on a 364% jump (YoY) in revenue at Rs.2028 crore. EBITDA jumped up 1281% at Rs.1961 crore and margins left one gasping – up from 32.5% to 96.7%.
During the quarter, , the company concluded the transaction involving divestment of 50% stake in Indiabulls Properties and Indiabulls Real Estate Company to Blackstone Group for Rs 4,750 crore - an aggregate enterprise value of $1.47 billion or Rs 9,500 crore.
Little wonder then that the stock price has today jumped up almost 10% to Rs.224 and is currently at Rs.221 levels, up 8%. Its 52-week high is at Rs.269.50.