Indiabulls Real Estate Limited ('the Company'), through its wholly-owned subsidiary Yashita Buildcon Limited, has, today i.e. 11th January 2018, entered into a binding and definitive agreement to acquire a prime and newly constructed commercial building, having leasable area of approx 2.5 lac sq ft in Gurugram.
The deal is expected to get completed in 3 to 4 months when the Occupation Certificate of the building is expected to be received. The said building is situated at a developed prime commercial location, where many leading multi-nationals are operating in nearby vicinity. With this additional leasable area, the Company expects to enhance its annuity revenue to Rs. 1,450 crores in FY 20-21 from the rental properties portfolio of Indiabulls Real Estate Ltd.
Shares of INDIABULLS REAL ESTATE LTD. was last trading in BSE at Rs.255.6 as compared to the previous close of Rs. 247.05. The total number of shares traded during the day was 1422359 in over 9686 trades.
The stock hit an intraday high of Rs. 257.5 and intraday low of 246.95. The net turnover during the day was Rs. 360245540.