Indiabulls Real Estate loss widens to Rs 1,038 cr in FY24

Indiabulls Real Estate Ltd (IBREL) has posted widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year. Its net loss stood at Rs 608.38 crore in 2022-23.

Total income also fell to Rs 468.75 crore during 2023-24 from Rs 648.47 crore in the preceding year, according to a regulatory filing on Friday.

IBREL's ness loss in March quarter FY24 narrowed to Rs 302 crore from Rs 375.99 crore in the year-ago period.

Total income fell to Rs 39.54 crore in the quarter from Rs 132.91 crore in the year-ago period.

Mumbai-based IBREL is one of the leading real estate developers in the country.