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Indiabulls Q4 Profit Jumps 46.4% to Rs 194 Crore on Real Estate Push

Indiabulls reported a 46.4% jump in Q4 profit to Rs 194 crore, with revenue at Rs 418 crore. The real estate segment was the key earner, contributing Rs 143 crore at the operating level. The company recorded sales bookings of Rs 2,752 crore and a development pipeline worth Rs 21,000 crore. CEO Divyesh Shah highlighted progress from the restructuring and a clear pipeline into FY27.

Key Points: Indiabulls Q4 Profit Up 46.4% to Rs 194 Crore

  • Q4 PAT rises 46.4% to Rs 194 crore
  • Revenue at Rs 418 crore for the quarter
  • Real estate contributes Rs 143 crore at operating level
  • Sales bookings of Rs 2,752 crore with 909 units sold
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Indiabulls' Q4 profit jumps 46.4 pc to Rs 194 crore

Indiabulls reports 46.4% rise in Q4 profit to Rs 194 crore, driven by real estate and financial services. FY26 PAT stands at Rs 346 crore.

"FY26 marked a year of meaningful progress, driven by a stronger structure, focused strategy and a real estate pipeline that offers clear visibility into FY27. - Divyesh Shah"

Mumbai, April 29

Indiabulls Limited on Wednesday reported a 46.4 per cent rise in profitability for the March quarter, closing a transformational financial year marked by its merger and strategic shift towards a real estate-led business model supported by diversified financial services.

The company posted a profit after tax of Rs 194 crore for the quarter ended March 31, according to the financial statement.

Revenue during the quarter stood at Rs 418 crore, it added in its financial statement.

For the full financial year FY26, Indiabulls reported a profit after tax of Rs 346 crore on revenue of Rs 880 crore, resulting in a healthy profit margin of 39.3 per cent.

The performance reflects the company's successful repositioning and improved operational efficiency following its restructuring.

The real estate segment remained the key earnings driver, contributing around Rs 143 crore at the operating level in the fourth quarter.

For the full year, the company recorded sales bookings worth Rs 2,752 crore, with 909 units sold across 21.6 lakh square feet, while collections stood at Rs 400 crore.

Indiabulls' residential portfolio continues to focus on the Rs 2 crore to Rs 6 crore ticket size segment, targeting both luxury and mid-income categories across key markets such as Delhi NCR, Mumbai and Ludhiana.

The company also highlighted a strong development pipeline with a gross development value (GDV) of over Rs 21,000 crore spanning more than 110.52 lakh square feet, including ongoing, upcoming and future projects, providing clear revenue visibility in the coming years.

Alongside real estate, its financial services vertical delivered steady performance. The stock broking business reported revenue of Rs 124.4 crore in FY26, with a 26 per cent year-on-year growth in the March quarter, supported by client assets exceeding Rs 68,000 crore.

The asset reconstruction business maintained a disciplined approach, with assets under collection of Rs 3,794 crore and recoveries of Rs 288 crore during the year.

Commenting on the results, Executive Director and CEO Divyesh Shah said FY26 marked a year of meaningful progress, driven by a stronger structure, focused strategy and a real estate pipeline that offers clear visibility into FY27.

- IANS

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Reader Comments

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Sarah B
As someone who tracks Indian markets from abroad, this looks like a textbook turnaround story. The GDV of ₹21,000 crore is huge—if they execute well on those projects, the next few years could be very profitable. The broking business growing 26% y-o-y is also a nice diversification. But I'd want to check the debt levels before investing.
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Priya S
Good numbers but I'm worried about the concentration risk. They're betting big on luxury housing in just 3 cities—Delhi NCR, Mumbai, Ludhiana. If those markets slow down, they'll be in trouble. Also, ₹418 crore revenue with ₹194 crore profit seems too good to be true. Is that margin sustainable without cutting corners? 🤔
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Michael C
The 39.3% profit margin is exceptional for a real estate company in India. Usually margins are much thinner due to land acquisition costs and regulatory delays. If they've genuinely managed to restructure and become more efficient, this could be a great long-term hold. I'd love to see the cash flow statement though—profit is one thing, cash is another.
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Rohit L
As someone from Mumbai, I've seen Indiabulls' projects firsthand. Their residential quality is decent but the pricing is very aggressive—₹2-6 crore is steep even for the suburbs. The Ludhiana focus is interesting though; Punjab's real estate market is under-served. Hope they don't repeat the mistakes of the 2008 bubble where everyone over-leveraged on luxury housing. Abhi toh sab theek hai, but market can turn anytime.
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Kavya N

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