Indiabulls net profiit rises 2.5 times to Rs 81.2 crore

MUMBAI: The consolidated net profit of Mumbai based Indiabulls Real Estate for July-September quarter rose 2.5 times year-on-year to Rs 81.2 crore on strong sales.

Consolidated total income rose 31.6% to Rs 450.6 crore from Rs 342.3 crore during the corresponding quarter a year ago. Consolidated earnings before interest, tax, depreciation and amortisation ( EBITDA) rose 39.7% on to Rs 169 crore from last year and operating profit margin jumped 210 basis points to 37.4% during the quarter.

Indiabulls said it sold 2.25 million square feet area worth Rs 2,236 crore during April-September period against 1.19 msft worth Rs 1,214 crore that the company sold a year ago. Total leased area of the company stood at 2.8 msft with annual rentals of Rs 542 crore per annum as of September 2013.